RHB Retail Research

Author: rhboskres   |   Latest post: Fri, 10 Jan 2020, 5:31 PM


Trading Stocks - Thong Guan Industries

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Thong Guan Industries formed a long white candle, indicating that the momentum of buying could be strong. In view that the 21-day SMA line is likely to begin turning upwards, this also implies a positive outlook sentiment. A bullish bias may appear above the MYR2.71 level, with an exit set below the MYR2.60 threshold. Towards the upside, the near-term resistance is at MYR2.96. This is followed by the MYR3.08 level.

Source: RHB Securities Research - 6 May 2019

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Labels: TGUAN

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