Dagang Nexchange Bhd

• Share price closed 2.27% higher at RM0.45 on Tuesday.

• DNEX has been hovering between the RM0.42 and RM0.535 range after hitting its 52-week low of RM0.37 at the end of May-23. It broke out from its resistance level of RM0.45 with significant buying accumulation observed over the past 4 days. Coupled with bullish MACD crossover, share price is expected to move higher.

• Resistance level are identified at RM0.45 (R1) and RM0.455 (R2).

• On the flipside, support levels are pegged at RM0.42 (S1) and 0.39 (S2).

Source: Rakuten Research - 30 Aug 2023

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