RHB Retail Research
Technical Analysis - Mynews
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Mynews may trend higher after it formed a third consecutive positive candle. Given that the stock has formed a “Hammer” pattern on 9 Aug, this indicates a potential rebound. A bullish bias may appear above the MYR1.48 level, with an exit set below the MYR1.40 level. Towards the upside, the near-term resistance is at MYR1.60. This is followed by the MYR1.70 level.
Source: RHB Securities Research - 13 Aug 2018
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