T7 Global Bhd

• Share price closed 1.10% higher at RM0.46 on Monday.

• T7GLOBAL has been on a steady uptrend and reached its 52-week high of RM0.50 at Sept-23. It attempted to break its current level yesterday, with solid buying momentum throughout the month. Fundamentally, it has secured a contract worth RM21.17m from Tenaga Nasional Bhd (TNB) to supply smart meters. RSI is near oversold territory and is due for a rebound hence share price is expected to move higher.

• Resistance levels are identified at RM0.49 (R1) and RM0.495 (R2).

• On the flipside, support levels are pegged at RM0.445 (S1) and RM0.44 (S2).

Source: Rakuten Research - 10 Oct 2023

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