Trading momentum on PLS Plantations has surged lately. The stock broke past the immediate resistance of MYR1.10 on the back of high volume, showing that strong trading interest has emerged. If the momentum continues, the stock should climb towards MYR1.20 followed by MYR1.27. Towards the downside, MYR1.00 would be regarded as a strong support point.
Source: RHB Securities Research - 30 Jan 2023
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