RHB Investment Research Reports
Trading Stocks - Ancom Logistics
rhbinvest
Publish date: Thu, 20 Apr 2023, 02:26 PM
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
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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
Ancom Logistics is eyeing for a breakout as it bounced off the 21-day SMA line, hitting the MYR0.185 immediate resistance on stronger trading volume. If a breakout happens, the stock may propel towards MYR0.20, ie the high of 22 Mar, followed by MYR0.25, or 3 Feb’s high. However, if the stock falls below the support of MYR0.165, forming a “lower low” bearish pattern, it would negate our expectations.
Source: RHB Securities Research - 20 Apr 2023
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