RHB Retail Research
Technical Analysis - Parkson
Parkson
Parkson may trend higher after forming a white candle and leaving an upside gap. Last Friday’s white candle can be viewed as a continuation of the bulls extending the rebound from 30 May’s “Hammer” pattern. A bullish bias may appear above the MYR0.52 level, with an exit set below the MYR0.475 threshold. To the upside, the near-term resistance is at MYR0.605. This is followed by the MYR0.675 level.
Source: RHB Securities Research - 4 Jun 2018
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