Technical Analysis
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- There is a huge transaction volume in the 6 months and push SAPRNG shares to RM0.310 and closed at RM0.305.
- Furthermore, SAPRNG closed gap down on Feb 20, 2019 but it fail to sustain above the gap in next two(2) trading days.
- SAPRNG dropped and challenged RM0.305 on Feb 26, 2019 and bounce above RM0.310 in next trading days. It firm up the support line at RM0.305.
- With MACD and RSI are turning bearish and neutral zone respectively, SPARNG expects to enter rectangle consolidation phrase.
- SAPRNG is drop below uptrend (short-term) on Mar 08, 2019 but need to monitor in next 3 trading days to confirm whether a real breakout or fake breakout.
- EMA20 is trying to cross above EMA60 in coming weeks. If EMA20 fail to cross above, SAPRAN might further drop to RM0.289 and RM0.276.
- Resistance R2 @ RM0.380
- Resistance R1 @ RM0.335
- Support, S1 @ RM0.300
- Support, S2 @ RM0.275
Note:-
- As long as Brent Crude Oil per barrel trade above USD60-65 per barrel, it will lead a positive impact on SAPRNG revenue.
- If PBT and EPS become better and/or slightly better in coming financial statement, SPARNG shares price able to further improve in futures.