RCE Capital formed a long white candle yesterday, indicating that the momentum of buying could be strong. Given that the stock has breached above the downtrend line drawn in the chart, this indicates a positive sign. A bullish bias may appear above the MYR1.42 level, with an exit set below the MYR1.22 threshold. Towards the upside, the near-term resistance is at MYR1.60. This is followed by the MYR1.70 level.
Source: RHB Securities Research - 5 Jun 2018
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Created by rhboskres | Aug 26, 2024