RHB Investment Research Reports

Trading Stocks - Oriental Food Industries

rhbinvest
Publish date: Wed, 15 Nov 2023, 09:47 AM
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Oriental Food Industries is extending its parabolic movement after breaking past the resistance with strong volume. We have observed the stock climbing above the MYR1.76 resistance while trading volume has been increasing, indicating a strong bullish momentum is underway. The counter may travel towards the MYR1.90 threshold, followed by MYR2. On the other hand, falling below the MYR1.59 support kicks off the bearish phase.

Source: RHB Securities Research - 15 Nov 2023

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