Guh Holdings Bhd (GUH, 3247)

• Share price closed 5.06% higher at RM0.415 on last Friday.

• GUH has been on a downward trend since reaching its 52-week peak of RM0.555 in mid-Jun23. It broke through three resistance levels at RM0.40, RM0.405, and RM0.41 in a single day with high buying volume, attempting to surpass RM0.415 last Friday before settling at current level. Coupled with a bullish MACD crossover, the share price is expected to move higher.

• Resistance level are identified at RM0.425 (R1) and RM0.435 (R2).

• On the flipside, support levels are pegged at RM0.39 (S1) and RM0.385 (S2).

Source: Rakuten Research - 11 Sept 2023

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