RHB Retail Research
Technical Analysis - Boilermech
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Boilermech may move higher after it formed a second consecutive white candle and leaving an upside gap. The stock has breached above the downtrend line drawn in the chart, which is a positive sign. A bullish bias may emerge above the MYR0.725 level, with an exit set below the MYR0.65 level. Towards the upside, the immediate resistance is at MYR0.80. This is followed by the MYR0.845 level.
Source: RHB Securities Research - 12 Jun 2018
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