Petronas Chemicals Group’s upside move may persist after it continued holding above the rising 21-day SMA line. As the stock has recorded a new 52-week high lately, the positive sentiment has been enhanced. A bullish bias may appear above the MYR8.90 level, with an exit set below the MYR8.60 threshold. Towards the upside, the near-term resistance is at MYR9.50. This is followed by the MYR10.00 level.
Source: RHB Securities Research - 3 Aug 2018
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PCHEMCreated by rhboskres | Aug 26, 2024