RHB Retail Research
Technical Analysis - Magnum
Magnum
Magnum’s upside move may continue after it continued holding above the rising 55-day SMA line. Last Friday’s white candle can be regarded as a continuation of the rebound that started off 3 Jul’s “Bullish Harami” pattern. A bullish bias may emerge above the MYR2.10 level, with an exit set below the MYR2.01 threshold. To the upside, the immediate resistance is at MYR2.20. This is followed by the MYR2.34 level.
Source: RHB Securities Research - 9 Jul 2018
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