A Big rebound for Rapid Synergy

Rapid Synergy Bhd (7765) rose 57 sen to RM9.00 yesterday break its downtrend. The stock declined from a high RM10.80 in December 2021 to RM8.30 last week. Yesterday’s rebound saw share price testing the 200-day moving average.

Technical indicators are encouraging as the RSI (reading at 50) is pointing towards the overbought zone while the MACD has crossed above its signal line in the negative region.

“For the downside, we advise traders to cut loss if the price falls below the immediate support of RM8.20, marked by its recent low.” – JF Apex

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