SAPRNG (5218) - Technical Analysis


Technical Analysis

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- SAPRNG fails to sustain above EMA120 with two (2) attempt on Mar 18-2019 and Apr 8-2019 respectively.

- It ended a short-term downward trend with lower low RSI level since Mar-2019 and bounce back above 20 levels.

- In term of technical analysis perspective, we need to wait for another retrenchment of RSI to confirm RSI in an upward trend.

- If SAPRNG shares price don't trade above EMA20 (Red Movement line) for three (3) trading days, we still hold a bearish view for SAPRNG shares price movement.

- Resistance R2 @ RM0.375

- Resistance, R1 @ RM0.345

- Support, S2 @ RM0.275

Note:-

- Oil prices fell on Tuesday as an economic slowdown started to dent energy demand and investors turn their attention to weekly inventory data.

#SAPRNG5218

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