RHB Retail Research
Technical Analysis - Sam Engineering & Equipment (M)
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Sam Engineering & Equipment may rise higher after posting a long white candle and leaving an upside gap. As 21-day SMA line will likely begin turning upwards, this is an indication of a positive sign. A bullish bias may emerge above the MYR7.50 level, with an exit set below the MYR7.10 threshold. Towards the upside, the immediate resistance is at MYR8.00. This is followed by the MYR8.40 level.
Source: RHB Securities Research - 14 Aug 2018
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