Rubberex Corp (M) broke out from its 4-week bullish flag pattern with a long white candle yesterday, implying that its previous uptrend may have resumed. With the bullish piercing line pattern coming off the rising 20-day EMA, we expect further upside from here. A bullish bias may emerge above the RM0.72 level, with a stop-loss set at RM0.66, below 13 May’s low. Towards the upside, the near-term resistance level is seen at RM0.80, followed by RM0.85.
Entry : RM0.72–0.76
Target : RM0.80, RM0.85
Exit : RM0.66
Source: AmInvest Research - 24 May 2022
Chart | Stock Name | Last | Change | Volume |
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Created by AmInvest | Jul 26, 2024
Created by AmInvest | Jul 26, 2024
Created by AmInvest | Jul 26, 2024