Cape EMS Bhd (CEB, 5311)

• Share closed 3.91% higher at RM1.33 on Monday.

• CEB was listed on 20th March and its share price has been trading above its IPO price of RM0.90.Trading volume was thin for the past 2 months with price trending downwards but was supported at the RM1.20 level. Indicators have turned bullish currently and showing uptick momentum hence share price is expected to move higher.

• Resistance levels are identified at RM1.37 (R1) and RM1.42 (R2).

• On the flipside, support levels are pegged at RM1.22 (S1) and RM1.20 (S2).

Source: Rakuten Research - 13 Jun 2023

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