RHB Retail Research

Author: rhboskres   |   Latest post: Thu, 5 Dec 2019, 5:08 PM


Trading Stocks - Oriental Food Industries

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Oriental Food Industries may trend higher after it formed a long white candle and breached above the MYR0.84 threshold. In view that the 21-day SMA line is likely to begin turning upwards, this implies a positive outlook sentiment. A bullish bias may appear above the MYR0.84 level, with an exit set below the MYR0.795 threshold. Towards the upside, the near-term resistance is at MYR0.91. This is followed by the MYR0.95 level.

Source: RHB Securities Research - 30 Apr 2019

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