RHB Investment Research Reports
Trading Stocks - Malaysian Resources Corporation
rhbinvest
Publish date: Fri, 19 Jul 2024, 09:42 AM
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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
Malaysian Resources Corporation is eyeing to extend the upside movement, testing the immediate resistance with high volume. The stock climbed above the 21-day SMA line and is poised to break past the MYR0.70 resistance. If a breakout occurs, the momentum may lift the stock towards MYR0.74, followed by MYR0.80. On the downside, falling below the MYR0.65 support would resume the correction phase.
Source: RHB Securities Research - 19 Jul 2024
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