RHB Investment Research Reports
Trading Stocks - Icon Offshore
rhbinvest
Publish date: Mon, 22 Jan 2024, 05:06 PM
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
Icon Offshore is posing a bullish setup after bouncing off the breakout point. Despite facing mild selling pressure, the stock managed to rebound from the MYR0.725 level, showing the bullish structure remains intact. Hence, expect an extension of the “higher high” pattern to lift the stock towards MYR0.83, followed by MYR0.92. On the other hand, falling below the MYR0.64 support will kick off the correction phase.
Source: RHB Securities Research - 22 Jan 2024
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