TECHNICAL AND FUNDAMENTAL ANALYSIS

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SAPRNG (5218) - Technical Analysis

January 10, 2019

Technical Analysis

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- 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

 

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