RHB Investment Research Reports

Trading Stocks - Guan Chong

rhbinvest
Publish date: Mon, 13 Jan 2025, 10:33 AM
rhbinvest
0 4,642
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

Guan Chong is eyeing to extend its upside movement after staging a bullish breakout with strong volume. The stock printed a long white candlestick and closed above the MYR4.07 resistance, which showed a bullish underlying momentum. After the breakout, we expect a follow-through price action to test the next resistance at MYR4.40, followed by the MYR4.65 level. In the event it falls below the MYR3.78 support, this will dent market sentiment and open the door for a correction.

Source: RHB Securities Research - 13 Jan 2025

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

Post a Comment