RHB Investment Research Reports

Trading Stocks - Dayang Enterprise Holdings

Publish date: Thu, 12 Jan 2023, 09:28 AM
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An official blog in I3investor to publish research reports provided by RHB Research team.

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Dayang Enterprise Holdings is set to propel beyond its 52-week high after it broke above the MYR1.36 yesterday on significant trading volume – printing a “White Marubozu” bullish candlestick and forming a “higher high” bullish pattern. The bullish bias above that breakout level should lift the stock towards MYR1.50, ie near the 10 May 2021’s high, followed by the next threshold at MYR1.60. Conversely, the counter may reverse its direction if it falls below the MYR1.28 support, forming a “lower low” bearish structure below the 21-day average line.

Source: RHB Securities Research - 12 Jan 2023

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