DNEX

Sector: IT/ Semiconductor/ Oil & Gas

Analyzed on 11 Feb 2022

Fuelled by multi-years high brent oil price and its stake in SilTerra, DNEX has broken its consolidation resistance and started a new uptrend. Share price have been trending above its EMA25 and 50 forming higher highs. DNEX closed the week at RM1.09, rather bullish as compared to other semiconductor companies. The momentum indicator RSI indicates DNEX is near the overbought region. Although short term wise we may see DNEX retracing to its support (at RM0.99) after this round of rally, but as the uptrend has just commenced, we may see further rallying supported by its uptrend EMAs.

Reason to monitor: Uptrend after consolidation

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