RHB Retail Research
Technical Analysis - Malaysian Pacific Industries
Malaysian Pacific Industries
Malaysian Pacific Industries formed a long white candle yesterday, indicating that the momentum of buying could be strong. This candle can be regarded as a continuation of the rebound that started off 9 Jul’s “Bullish Engulfing” pattern. A bullish bias may appear above the MYR10.30 level, with an exit set below the MYR9.60 threshold. Towards the upside, the near-term resistance is at MYR11.18. This is followed by the MYR12.00 level.
Source: RHB Securities Research - 13 Jul 2018
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