Agmo Holdings Bhd

• Share price closed 1.68% higher at RM0.605 on Tuesday.

• AGMO has been fluctuating between RM0.53 and RM0.635 after touching its 52-week low of RM0.48. Thereafter, share price has been testing the resistance of RM0.615 before settling at current level accompanied by decent buying volume over the past week. MACD is poised for a potential cross over in the near future, thus share price is expected to propel higher.

• Resistance level are identified at RM0.615 (R1) and RM0.625 (R2).

• On the flipside, support levels are pegged at RM0.585 (S1) and 0.56 (S2).

Source: Rakuten Research - 23 Aug 2023

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