Rakuten Trade Research Reports

Technical View - Careplus Group Bhd

Publish date: Fri, 08 Sep 2023, 09:07 AM
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Careplus Group Bhd

  • Share price closed 9.26% higher at RM0.295 on Thursday.
  • CAREPLS entered into a consolidation phase after reaching its YTD peak of RM0.495 at the beginning of the year. It broke above its three resistance levels of RM0.27, RM0.28 and RM 0.285 within a day with a spike in buying momentum following the announcement of its diversification into the electric vehicle (EV) business amid challenges in the glove market. Coupled with a bullish MACD crossover, the share price is expected to move higher.
  • Resistance level are identified at RM0.295 (R1) and RM0.315 (R2).
  • On the flipside, support levels are pegged at RM0.25 (S1) and RM0.23 (S2).

Source: Rakuten Research - 8 Sept 2023

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