RHB Investment Research Reports
Trading Stocks - Avaland
rhbinvest
Publish date: Thu, 04 Jan 2024, 12:44 PM
rhbinvest
0 3,568
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
Avaland is eyeing for a technical breakout as it rebounded above the 21-day SMA line, touching MYR0.26 on stronger trading volume. If a breakout occurs, the stock will likely advance towards the 52-week high level at the MYR0.29 resistance, followed by MYR0.355 – its highest level since 1 Apr 2021. Conversely, a drop below the MYR0.235 support would invalidate the bullish setup, falling below the 21-day SMA line.
Source: RHB Securities Research - 4 Jan 2024
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