RHB Retail Research
Technical Analysis - Southern Steel
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Southern Steel may rebound further after it tested the MYR1.32 support in recent trades. As the stock rose above the 21-day SMA line, this is a positive sign. A bullish bias may appear above the MYR1.47 level, with an exit set below the MYR1.32 threshold. Towards the upside, the near-term resistance is at MYR1.73. This is followed by the MYR1.94 level.
Source: RHB Securities Research - 17 Jul 2018
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