RHB Retail Research
Technical Analysis - Magnum
Magnum
Magnum was testing the MYR2.20 level in recent trades. A bullish bias may be present above this point with a target price of MYR2.32, followed by MYR2.40. The stock may consolidate further if it cannot breach above the MYR2.20 threshold decisively in the near term. Support may be found at MYR2.05, where traders can exit upon a breach to limit the downside risk.
Source: RHB Securities Research - 8 Jun 2018
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