RHB Investment Research Reports

Trading Stocks - QL Resources

Publish date: Tue, 05 Jul 2022, 12:43 PM
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An official blog in I3investor to publish research reports provided by RHB Research team.

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QL Resources is eyeing to resume its uptrend as it bounced off the immediate support to head towards the recent high of MYR5.40 – it closed on a positive tone last Friday with the “White Marubozu” bullish candlestick. If a breakout happens above that level, the bullish momentum may propel the stock towards the MYR5.70 next resistance based on 26 Aug’s high, followed by the MYR6.00 threshold. However, the stock may reverse direction if it falls below the MYR5.18 support – forming a “lower low” bearish pattern.

Source: RHB Securities Research - 5 Jul 2022

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