RHB Investment Research Reports
Trading Stocks - IFCA MSC
rhbinvest
Publish date: Thu, 18 Apr 2024, 10:00 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
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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
The upward-trending structre of IFCA MSC has been confirmed after the stock breached a key resistance level on strong volume. The counter climbed above the MYR0.35 resistance with a strong bullish candlestick – signalling the resumption of the uptrend. Riding on this strong bullish momentum, expect a follow-through price action to test the next resistance of MYR0.41, followed by MYR0.44. Breaching below the MYR0.32 support would result in the resumption of the correction phase.
Source: RHB Securities Research - 18 Apr 2024
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