Grab Holdings Gains 4.41% In Two Days As Technicals Signal Bullish Reversal

Grab Holdings (GRAB) rose 1.82% to $6.16 in the latest session, marking its second consecutive daily gain for a combined 4.41% advance. This upward movement follows a significant test of the $5.90 support level on October 1st, which has established a near-term foundation for price action.
Candlestick Theory
Recent candlestick patterns show a bullish reversal sequence. The October 1st session formed a long-tailed hammer (low: $5.83, close: $5.90) near critical support, followed by two consecutive white candles with higher closes. The October 3rd candle tested the $6.22 resistance (coinciding with September 22nd and 25th highs) but closed slightly below at $6.16. This establishes $6.22 as immediate resistance and $5.83-5.90 as key support.
Moving Average Theory
The 50-day, 100-day, and 200-day moving averages exhibit a bullish configuration, with shorter averages above longer ones. Current price ($6.16) trades above all three, confirming an uptrend. Notably, the 50-day MA provided dynamic support during the September pullback. The 200-day MA near $4.80 anchors the long-term trend, while the 50-day MA (approximately $5.70) reinforces intermediate bullishness. Golden crosses between these averages earlier in 2025 support the structural upward bias.
MACD & KDJ Indicators
MACD shows a bullish crossover emerging, with the histogram turning positive after the October 1st low, suggesting regained momentum. KDJ oscillators corroborate this shift: Both %K and %J lines crossed above %D from oversold territory (<20) on October 2nd. This alignment signals strengthening upward momentum, though neither indicator has yet reached overbought zones, leaving room for continuation.
Bollinger Bands
Volatility expansion occurred during the September decline, with the price touching the lower band on October 1st. Subsequent rebound has pushed the price above the 20-day midpoint band, indicating trend reversal confirmation. The bands are now narrowing, suggesting reduced volatility and potential consolidation before a directional resolution. Upper band resistance converges with the $6.22 horizontal level.
Volume-Price Relationship
Volume surged during the September 18th breakout ($6.50) and October 1st support test (71M shares), validating these pivotal levels. Recent gains occurred on moderate volume (47-50M shares vs. 71M average in September), raising mild sustainability concerns. However, the absence of distribution patterns and higher-than-average volume on up days during September’s rally provides underlying support for the uptrend.
Relative Strength Index (RSI)
The 14-day RSI rebounded sharply from near-oversold territory (34.6 on October 1st) to its current reading of 58.2. This recovery signals improving momentum without entering overbought conditions (>70). The RSI’s bullish divergence in late September (higher lows vs. price’s lower lows) foreshadowed the recent rebound, though its neutral position warrants monitoring for overextension.
Fibonacci Retracement
Using the swing low of $3.68 (October 4, 2024) and high of $6.58 (September 22, 2025), key retracement levels are identified. The recent pullback precisely respected the 23.6% level ($5.90) before reversing—a classic Fibonacci support confluence. The 38.2% level ($5.47) now serves as secondary support. Upside targets include the 78.6% extension at $6.45 and the full extension at $6.90.
Confluence and Divergence Observations
Strong confluence exists at $5.90, validated by Fibonacci, candlestick hammer formation, Bollinger lower band, and volume-supported reversal. Bullish alignment appears in moving average stacking, MACD crossover, and RSI recovery. A minor divergence exists between price and volume: Recent gains lack the volume intensity seen in September’s rally, suggesting cautious near-term advancement. However, multi-indicator agreement below $6.00 supports bullish continuity if $5.83 holds. A decisive break above $6.22 would likely trigger momentum-based buying targeting the $6.45-6.58 resistance zone.