Greatech Technology Bhd (GREATEC, 0208)

• Share price closed 1.63% higher at RM4.37 on last Friday.

• GREATEC has been retracing from its YTD peak of RM5.33 since February. Support level is found atRM4.11. It broke out from its RM4.45 resistance level 4 times over the past 2 weeks. Bullish MACD has formed with an observed upbeat buying momentum. Coupled with bullish indicators showing uptick momentum, share price is expected to propel higher.

• Resistance levels are identified at RM4.45 (R1) and RM4.60(R2).

• On the flipside, support levels are pegged at RM4.11 (S1) and RM3.75 (S2).

Source: Rakuten Research - 3 Jul 2023

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