Plytec Holding Bhd (PLYTEC, 0289)

• We believe PLYTEC is back on buyer’s radar after it staged a rebound to beyond the key resistanceof RM0.33. The improved trading volume also sent share price to close above the 20-day EMA. This is further supported by the rising 20-day EMA suggesting that a bullish crossover is likely to occur soon, thus enhances the near-term bullish momentum.

• We anticipate the rising momentum to steer the stock higher and test the next resistance at RM0.36(R1) followed by RM0.385 (R2) in the near term.

• On the downside, stop-loss is set at RM0.30.

Source: Rakuten Research - 21 Oct 2024

To sign up for an account: http://bit.ly/40BNqKI

[Youtube Tutorial] Account Opening & Enable Foreign Equity: http://bit.ly/3I5Jzxo