RHB Retail Research
Trading Stocks - P.I.E. Industrial
idn
P.I.E. Industrial may rebound further after it tested MYR1.43 support in its latest session. Given that the stock has formed a “Bullish Engulfing” pattern on 31 Jul, this indicates a potential rebound. A bullish bias may appear above the MYR1.50 level, with an exit set below the MYR1.43 threshold. Towards the upside, the near-term resistance is at MYR1.68. This is followed by the MYR1.78 level.
Source: RHB Securities Research - 1 Aug 2018
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