RHB Investment Research Reports
Trading Stocks - P.A. Resources
rhbinvest
Publish date: Thu, 21 Mar 2024, 10:16 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
P.A. Resources is poised for a potential technical breakout after reclaiming the 21-day SMA line, as it heads towards the recent high of MYR0.365. A breakout above this level could drive the stock higher towards the MYR0.39 resistance, and potentially the next resistance level of MYR0.42, which is also the 2-year high. On the contrary, a breach below the MYR0.33 support level would increase the risk of a downtrend reversal.
Source: RHB Securities Research - 21 Mar 2024
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