RHB Retail Research
Technical Analysis - Evergreen Fibreboard
Evergreen Fibreboard may rise higher after it breached above the MYR0.60 threshold. In view that the 21-day SMA line will likely begin turning upwards, this also suggests a likelihood of increased demand in the near term. A bullish bias may emerge above the MYR0.585 level, with an exit set below the MYR0.53 threshold. To the upside, the immediate resistance is at MYR0.65. This is followed by the MYR0.705 level.
Source: RHB Securities Research - 17 Aug 2018
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