RHB Retail Research
Technical Analysis - Guan Chong
Guan Chong
Guan Chong may trend higher after it formed a long white candle and breached above the MYR1.85 threshold. In view that the 21-day SMA line will likely begin turning upward, this is an indication of a positive sign. A bullish bias may appear above the MYR1.85 level, with an exit set below the MYR1.64 threshold. To the upside, the near-term resistance is at MYR2.02. This is followed by the MYR2.20 level.
Source: RHB Securities Research - 8 Aug 2018
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