RHB Retail Research
Technical Analysis - GFM Services
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GFM Services formed a long white candle, indicating that the buying momentum could be strong. Yesterday’s 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 MYR0.56 level, with an exit set below the MYR0.505 threshold. To the upside, the near-term resistance is at MYR0.625. This is followed by the MYR0.68 level.
Source: RHB Securities Research - 13 Jun 2018
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