RHB Investment Research Reports
Trading Stocks - Bermaz Auto
rhbinvest
Publish date: Tue, 28 Mar 2023, 09:19 AM
rhbinvest
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An official blog in I3investor to publish research reports provided by RHB Research team.
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
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
Bermaz Auto is set to move towards multi-month high, having broken above the immediate resistance of MYR2.20 yesterday and forming a "higher high" bullish pattern. The bullish momentum above this level may propel the stock towards the MYR2.39 before possibly reaching a new high at the MYR2.50 mark. However, if the stock falls below the support of MYR2.10, which is also below the 21-day SMA line, it would negate our expectations.
Source: RHB Securities Research - 28 Mar 2023
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