Technical Review – Globetronics Technology (7022)

Following the panic-induced overselling of Globetronics Technology Bhd (GTRONIC) in early September 2024, we have observed a strong recovery in its share price. This rebound is supported by robust buying interest, as indicated by the prominent red bars on the chart. Additionally, the Relative Strength Index (RSI) reflects a relatively healthy buying momentum, suggesting that the market's confidence in the stock is recovering.

From a fundamental perspective, GTRONIC has been a key player in the outsourced semiconductor assembly and test (OSAT) sector in Malaysia, with a solid track record over the years. The recent share price movement appears to align with a value recovery, as market sentiment stabilises and buying interest continues to build.

● Support Levels: RM0.670 (S1), RM0.615 (S2)

● Resistance Level: RM0.700 (R1)