Technical Outlook:

The chart indicates a strong bullish setup, with the price trading above the 20-day EMA, 50-day SMA, and 150-day SMA, reflecting an ongoing uptrend. The price is near the upper Bollinger Band, signaling bullish momentum but potential overbought conditions in the short term. Volume spikes during rallies confirm buying interest, although recent volume shows signs of tapering. The MACD remains bullish, with the line above the signal, but the weakening histogram suggests potential consolidation or a pullback. Immediate support lies at 1.65 (20-day EMA) and 1.64 (50-day SMA), while resistance is around the recent high of 1.77. The technical setup is bullish for its strong trend and momentum, but caution is advised as momentum weakens. A breakout above 1.77 with higher volume would confirm continuation, while a close below 1.65 may signal deeper corrections. Monitoring key levels and momentum indicators is essential.

Company background:

Solarvest Holdings Berhad specializes in renewable energy solutions, focusing on solar power. Its core operations include engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems. It also provides operations and maintenance services, energy storage solutions, and invests in solar assets.