Hengyuan Refining Company is set to rebound strongly towards the recent high as it bounced off its 21-day average line on strong volume – breaching above the MYR6.60 mark. If the buying interest persists, the stock may propel further towards the MYR7.44 resistance, before reaching the recent high at MYR7.70. If it falls below the support level of MYR6.03 – below the average line – the stock may trend downwards.
Source: RHB Securities Research - 31 May 2022
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Created by rhbinvest | Apr 25, 2024