Central Global Bhd (8052)–Holding Strong on Support
Key Support Level: RM0.870
Resistance Level: RM0.930, RM1.000
After a significant spike in share price by Central Global Bhd (CGB), we see a retracement today back onto the key support level of RM0.870. We believe the spike in share price has contributed to anticipation of better fundamentals of CGB ahead. Nevertheless, by the second half of the trading day, we see selling pressure subsided, and the RSI shows a convergence for potential consolidation in RM0.870 to RM0.930 level, before challenging RM1.000 key resistance again.
Resistance Level: RM0.930, RM1.000
After a significant spike in share price by Central Global Bhd (CGB), we see a retracement today back onto the key support level of RM0.870. We believe the spike in share price has contributed to anticipation of better fundamentals of CGB ahead. Nevertheless, by the second half of the trading day, we see selling pressure subsided, and the RSI shows a convergence for potential consolidation in RM0.870 to RM0.930 level, before challenging RM1.000 key resistance again.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
