G Capital Bhd

• Share price closed 1.19% higher at RM0.425 on Tuesday.

• GCAP has been on a downward sloping trend since reaching its YTD-high of RM0.54 over the past month, with support level found at RM0.405. Share price has broken out from its resistance level of RM0.42 on solid buying momentum yesterday. In-line with a bullish MACD crossover, share price is expected to move higher.

• Resistance level are identified at RM0.43 (R1) and RM0.44 (R2).

• On the flipside, support levels are pegged at RM0.41 (S1) and RM0.405 (S2).

Source: Rakuten Research - 9 Aug 2023

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