Rakuten Trade Research Reports

Technical View - Public Packages Holdings Bhd

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Publish date: Tue, 30 Apr 2024, 10:56 AM
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Public Packages Holdings Bhd (PPHB, 8273)

  • PPHB may trend higher after breaking out from its five month ascending triangle pattern with a longwhite marubozu candlestick yesterday. The increased trading volume also sent share price to a new 52 week high. Given the supportive technical reading in RSI and EMA, the uptrend may continue in the near term.
  • We expect the rising momentum to steer the stock higher and test the next resistance of RM0.92(R1), followed by RM1.00 (R2).
  • On the downside, stop-loss is set at RM0.78, below the 50 day EMA.

Source: Rakuten Research - 30 Apr 2024

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