RHB Retail Research

Technical Analysis - Guan Chong

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Publish date: Thu, 31 May 2018, 09:26 AM
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RHB Retail Research

Guan Chong

Guan Chong formed a long white candle, indicating that the momentum of buying could be strong. As the 21-day SMA line crossed above the 55-day SMA line lately, this has enhanced the buying momentum. A bullish bias may appear above the MYR1.68 level, with an exit set below the MYR1.40 threshold. Towards the upside, the near-term resistance is at MYR1.90. This is followed by the MYR2.11 level.

Source: RHB Securities Research - 8 Jun 2018

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