Dagang Nexchange is set to resume its uptrend reversal as it reclaimed the area above the recent breakout level of MYR1.09 last Friday, thereby printing a “higher low” bullish pattern. With that momentum, the stock is expected to propel towards the next resistance of MYR1.18, before reaching the 52-week high of MYR1.33. However, the momentum may decline if it falls below the MYR1.00 support, which is below the 21-day average line.
Source: RHB Securities Research - 11 Apr 2022
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