RHB Investment Research Reports
Trading Stocks - Parkson
rhbinvest
Publish date: Mon, 10 Jul 2023, 12:32 PM
rhbinvest
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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
Parkson may test the multi-month high, as a strong bullish momentum is in effect. The stock has broken past the MYR0.215 resistance on strong volume. While the share price is moving upwards, the trading volume is increasing in tandem as well. Riding on this momentum, the stock should travel towards the next reistance of MYR0.24, followed by MYR0.26. Breaching below the MYR0.20 support would dent market sentiment and kick off a correction phase.
Source: RHB Securities Research - 10 Jul 2023
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