RHB Retail Research

Technical Analysis - Chemical Company of Malaysia

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Publish date: Thu, 07 Jun 2018, 04:56 PM
rhboskres
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RHB Retail Research

Chemical Company of Malaysia’s upside move may persist after it continued holding above the 21-day SMA line. Yesterday’s candle can be viewed as a continuation of the bulls extending the buying momentum from 28 May’s upside gap. A bullish bias may emerge above the MYR2.13 level, with an exit set below the MYR1.99 threshold. Towards the upside, the immediate resistance is at MYR2.30. This is followed by the MYR2.50 level.

Source: RHB Securities Research - 7 Jun 2018

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