RHB Retail Research
Technical Analysis - Muhibah Engineering
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Muhibbah Engineering’s buying momentum may have returned after it rose above the 21-day SMA line. Last Friday’s white candle can be viewed as a continuation of the bulls extending the rebound from 21 Jun’s “Hammer” pattern. A bullish bias may emerge above the MYR3.00 level, with an exit set below the MYR2.90 threshold. Towards the upside, the immediate resistance is at MYR3.20. This is followed by the MYR3.35 level.
Source: RHB Securities Research - 25 Jun 2018
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