RHB Retail Research
Technical Analysis - Malakoff Corporation
Malakoff Corporation
Malakoff may rebound higher after it tested MYR0.95 support recently. Given that the stock has formed a long white candle above the rising 21-day SMA line, this means that the bullish sentiment has been enhanced. A bullish bias may appear above the MYR1.01 level, with an exit set below the MYR0.95 threshold. Towards the upside, the near-term resistance is at MYR1.10. This is followed by the MYR1.17 level.
Source: RHB Securities Research - 2 Aug 2018
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