RHB Investment Research Reports

Trading Stocks - Muhibbah Engineering (M)

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Publish date: Wed, 28 Feb 2024, 09:58 AM
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Muhibbah Engineering (M) is expected to resume its uptrend after a bullish breakout. The counter recently broke past the MYR0.805 resistance on the back of strong volume, indicating that bullish momentum is in play. The momentum should lift the counter towards the next resistance level at MYR0.85, followed by MYR0.90. On the downside, support has been established at the MYR0.765 level. A fall below this level would open the doors for a correction.

Source: RHB Securities Research - 28 Feb 2024

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