- Refer to previous technical analysis SAPRNG blogs on 25.12.2018, SAPRNG shares price don't fall below RM0.275.
- It retrenched from RM0.320 to RM0.280 which is slightly higher than previous level at RM0.275 with RSI in a dull.
- SAPRNG shares price is challenging EMA20, upper downward trend and gap down after expiry of right issue.
- The movement pattern of SAPRNG shares prices seen like trying to complete a bottom W-shape which is a bullish signal in technical analysis. (Right Leg of Bottom W)
- However, a Doji candlestick appeared with huge transaction volume on 10.01.2019 which reflected buying force and selling pressure unable to overcome each other accordingly.
- As long as Brent Crude Oil able to sustain above USD60/= per barrel and no significant impact decisions from US-China Trade War Talk, SAPRNG shares price able to enter bullish trend and hover around RM0.3150.
- Resistance R2 @ RM0.380
- Resistance R1 @ RM0.335
- Support, S1 @ RM0.300
- Support, S2 @ RM0.275