Betamek Bhd (BETA, 0263)

• Share price closed 2.11% higher at RM0.485 on Monday.

• BETA has been in a consolidation mode after touching a YTD high of RM0.67, with a support level found at RM0.425. It finally broke out from the resistance level of RM0.485 yesterday after decent buying momentum can be observed over the past week. Its MA20 and MA50 are poised a potential crossover and MACD above its zero line thus the share price is expected to extend its upward trajectory moving forward.

• Resistance level are identified at RM0.49 (R1) and RM0.50 (R2).

• On the flipside, support levels are pegged at RM0.45 (S1) and RM0.445 (S2).

Source: Rakuten Research - 27 Jun 2023

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