RHB Retail Research
Technical Analysis - Guan Chong
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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