RHB Investment Research Reports

Trading Stocks - Infoline Tec Group

Publish date: Wed, 15 Feb 2023, 09:37 AM
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An official blog in I3investor to publish research reports provided by RHB Research team.

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Infoline Tec Group is eyeing to reclaim the historical high as it rebounded from the 21-day average line yesterday, following the recent pullback. Riding on the “higher low” bullish pattern and improved trading volume, the stock is likely to stage a breakout above the MYR1 threshold. If that happens, the bullish momentum may propel the stock higher towards the MYR1.10 historical high, before possibly printing a new high at MYR1.20. However, the counter may move downwards if it drops below the MYR0.93 support, as it forms a “lower low” bearish pattern below the average line.

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