Agmo Holdings Berhad (AGMO, 0258)

• Share price closed 4.85% higher at RM0.54 on Tuesday.

• AGMO has formed a support at RM0.48 and has been trading within the RM0.48 to RM0.53 rangeover the past 2 weeks. It broke out from its resistance level of RM0.53 yesterday with decent buying volume in line with the good sentiment in technology counters mirroring NASDAQ performance. Coupled with bullish indicators showing uptick momentum, share price is expected to move higher.

• Resistance levels are identified at RM0.565 (R1) and RM0.58 (R2).

• On the flipside, support levels are pegged at RM0.48 (S1).

Source: Rakuten Research - 14 Jun 2023

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