Malaysia Marine And Heavy Engineering is set for an uptrend rebound as it surpassed the consolidation phase. It broke above the MYR0.56 immediate resistance yesterday on strong trading volume. The stock is expected to climb towards the MYR0.60 mark, followed by MYR0.65. Towards the downside, falling below the MYR0.525 support would indicate a reversal in trend and turn it southwards.
Source: RHB Securities Research - 25 Jul 2023
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