RHB Investment Research Reports

Trading Stocks - Cahya Mata Sarawak

rhbinvest
Publish date: Tue, 18 Jun 2024, 11:10 AM
rhbinvest
0 3,945
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

Cahya Mata Sarawak is eyeing to extend the upside movement after staging a bullish breakout. The counter has broken past the MYR1.30 resistance on the back of high volume, confirming a bullish setup. As long as the counter stays above the breakout point, we expect the follow-through price action to test the next resistance pegged at MYR1.50, followed by the MYR1.65 level. On the other hand, falling below the MYR1.20 support will negate the bullish setup.
 

Source: RHB Securities Research - 18 Jun 2024

Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment