RGB International Bhd (RGB, 0037)

• Share price closed 7.02% higher at RM0.305 on Thursday.

• RGB experienced significant selling pressure last month, with support level seen at RM0.28. It brokeout from its resistance threshold of RM0.30 with decent buying momentum yesterday and attempted to break its current level of RM0.305. MACD is poised for a potential crossover, thus share price is expected to propel higher.

• Resistance level are identified at RM0.325 (R1) and RM0.345 (R2).

• On the flipside, support levels are pegged at RM0.28 (S1) and RM0.275 (S2).

Source: Rakuten Research - 15 Sep 2023

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