KL Trader Investment Research Articles
Technical Review - Oriental Food Industries Holdings Berhad
ORIENTAL FOOD INDUSTRIES HOLDINGS BERHAD, DAILY CANDLESTICK CHART (MYR0.870)
STRATEGY:
ACCUMULATE (TECHNICAL)
The stock has been forming a higher low structure since Jan 2019 and has maintained an uptrend move over the past three months. Yesterday’s breakout is likely to kick start a new up leg backed by positive readings in both RSI and DeTrend. The stock will likely seek upper resistances in the nearterm.
Source: Maybank Research - 30 Apr 2020
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