RHB Investment Research Reports
Trading Stocks - Prolexus
rhbinvest
Publish date: Thu, 16 Feb 2023, 10:19 AM
rhbinvest
0 2,393
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All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
Prolexus is eyeing a technical breakout as it bounced off the 21-day average line and tested the MYR0.53 resistance on improved volume. If a breakout above that level emerges, the stock would propel higher towards the YTD high of MYR0.555, followed by the MYR0.60 threshold. However, the counter may move downwards if it drops below the MYR0.495 support, as it forms a “lower low” bearish pattern below the average line.
Source: RHB Securities Research - 16 Feb 2023
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