Malaysia Smelting Corporation may trend higher after it formed a long white candle and hit its 8-week high two sessions ago. The stock’s move above the RM1.50 resistance coupled with its rising 20-day EMA, indicates that the near term positive momentum may persist. A bullish bias may emerge above the RM1.50 level, with a stop-loss set at RM1.38, below the 20-day EMA. Towards the upside, the near-term resistance level is seen at RM1.90, followed by RM2.00.
Entry : RM1.50–1.69
Target : RM1.90, RM2.00
Exit : RM1.38
Source: AmInvest Research - 17 Nov 2022
Chart | Stock Name | Last | Change | Volume |
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Created by AmInvest | Sep 19, 2024
Created by AmInvest | Sep 17, 2024