RHB Investment Research Reports
Trading Stocks - Oriental Food Industries
rhbinvest
Publish date: Wed, 15 Nov 2023, 09:47 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
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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