RHB Investment Research Reports
Trading Stocks - Samchem Holdings
rhbinvest
Publish date: Thu, 28 Dec 2023, 09:49 AM
rhbinvest
0 4,584
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
Samchem Holdings is set for an uptrend reversal after it broke above the MYR0.61 immediate resistance with strong trading volume – forming a “White Marubozu” bullish candlestick. Amid trading above the rising 21-day SMA line, the stock will likely advance towards the MYR0.745 resistance, followed by the next resistance at MYR0.83. Conversely, a drop below the MYR0.58 support would invalidate the bullish setup, falling below the SMA line.
Source: RHB Securities Research - 28 Dec 2023
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