TECHNICAL AND FUNDAMENTAL ANALYSIS

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SAPRNG (5218) - Technical Analysis

March 10, 2019

 

Technical Analysis

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- There is a huge transaction volume in the 6 months and push SAPRNG shares to RM0.310 and closed at RM0.305. 

- Furthermore, SAPRNG closed gap down on Feb 20, 2019 but it fail to sustain above the gap in next two(2) trading days.

- SAPRNG dropped and challenged RM0.305 on Feb 26, 2019 and bounce above RM0.310 in next trading days. It firm up the support line at RM0.305.

- With MACD and RSI are turning bearish and neutral zone respectively, SPARNG expects to enter rectangle consolidation phrase.

- SAPRNG is drop below uptrend (short-term) on Mar 08, 2019 but need to monitor in next 3 trading days to confirm whether a real breakout or fake breakout. 

- EMA20 is trying to cross above EMA60 in coming weeks. If EMA20 fail to cross above, SAPRAN might further drop to RM0.289 and RM0.276.

- Resistance R2 @ RM0.380

- Resistance R1 @ RM0.335

- Support, S1 @ RM0.300

- Support, S2 @ RM0.275

 

Note:-

- As long as Brent Crude Oil per barrel trade above USD60-65 per barrel, it will lead a positive impact on SAPRNG revenue.

- If PBT and EPS become better and/or slightly better in coming financial statement, SPARNG shares price able to further improve in futures.

 

 

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