SAPRNG (5218) - Technical Analysis
- HONG WEI GIET
- Jun 4, 2019
- 1 min read
Technical Analysis
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- SAPRNG fails to sustain above EMA120 with two (2) attempt on Mar 18-2019 and Apr 8-2019 respectively.
- It ended a short-term downward trend with lower low RSI level since Mar-2019 and bounce back above 20 levels.
- In term of technical analysis perspective, we need to wait for another retrenchment of RSI to confirm RSI in an upward trend.
- If SAPRNG shares price don't trade above EMA20 (Red Movement line) for three (3) trading days, we still hold a bearish view for SAPRNG shares price movement.
- Resistance R2 @ RM0.375
- Resistance, R1 @ RM0.345
- Support, S2 @ RM0.275
Note:-
- Oil prices fell on Tuesday as an economic slowdown started to dent energy demand and investors turn their attention to weekly inventory data.