Rakuten Trade Research Reports

Technical View - DRB-HICOM Bhd

Publish date: Tue, 30 May 2023, 09:03 AM
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  • Share price closed 1.48% higher at RM1.37 on Monday.
  • DRBHICOM retraced after reaching its 52-week high at Rm1.83 beginning of March. Support is foundat RM1.33 as it has rebounded twice from this level during the past 3 months. A bullish MACD is soon to cross over, and indicators are showing an uptick in momentum. The share price is expected to propel higher.
  • Resistance levels are identified at RM1.41 (R1) and RM1.48 (R2).
  • On the flipside, support levels are pegged at RM1.33 (R1) and RM1.28 (R2).

Source: Rakuten Research - 30 May 2023

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