RHB Investment Research Reports
Trading Stocks - Lay Hong
rhbinvest
Publish date: Thu, 04 Apr 2024, 10:59 AM
rhbinvest
0 4,414
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
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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
Lay Hong is set to trend higher after rebounding above the 21- day SMA line – recently surpassing the MYR0.41 immediate resistance with strong volume. Sustained bullish momentum above this level should propel the stock towards the MYR0.445 recent high, followed by the MYR0.50 next resistance. However, a fall below the MYR0.38 support increases the risk of a reversal towards a downtrend, particularly if it falls below the SMA line.
Source: RHB Securities Research - 4 Apr 2024
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