RHB Investment Research Reports
Trading Stocks - Azam Jaya
rhbinvest
Publish date: Thu, 12 Dec 2024, 11:28 AM
rhbinvest
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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
Azam Jaya is poised to extend the bullish pathway after breaking past the resistance on strong volume. The counter printed a long bullish candlestick and surpassed the MYR0.89 resistance, showing a strong bullish momentum is underway. After the breakout, we expect a follow-through price action to test the MYR1 mark, followed by the MYR1.10 level. Conversely, falling below the MYR0.78 support resumes the correction phase.
Source: RHB Securities Research - 12 Dec 2024
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