RHB Retail Research
Technical Analysis - Chemical Company of Malaysia
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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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