Astino Bhd (ASTINO, 7162)
- We believe the buying interest for ASTINO may have returned following a break-out from its 2-monthdownward channel pattern with a long white candle yesterday. Given the supportive technical readings in RSI coupled with the positive overlap of its 20-day EMA above the 50-day EMA, this bullish crossover has enhanced the near-term positive momentum.
- We expect the rising momentum is set to steer the stock higher and test the next level of resistanceof RM0.58 (R1) and RM0.605 (R2) in the near term.
- On the downside, stop-loss is set at RM0.49, below 3 Nov’s low.
Source: Rakuten Research - 5 Mar 2024
To sign up for an account: http://bit.ly/40BNqKI
[Youtube Tutorial] Account Opening & Enable Foreign Equity: http://bit.ly/3I5Jzxo