Ranhill Utilities Bhd (RANHILL, 5272)

• RANHILL may extend it upward trajectory after it surged to a new 52-week high as it broke out from a one-week bullish flag pattern yesterday. In view of the stock pushing further away from all the EMAs on the back of higher trading volume, the upward momentum may be more prevalent now.

• We expect the rising momentum is set to steer the stock higher and test the next level of resistance of RM1.30 (R1) and RM1.35 (R2) in the near term.

• On the downside, stop-loss is set at RM1.05, below 12 Jan’s low.

Source: Rakuten Research - 17 Jan 2024

To sign up for an account : http://bit.ly/40BNqKI

[Youtube Tutorial] Account Opening & Enable Foreign Equity:http://bit.ly/3I5Jzxo