RHB Retail Research
Technical Analysis - Guan Chong
Guan Chong was testing the MYR2.35 level in recent trades. A bullish bias may be present above this point with a target price of MYR2.50, followed by MYR2.70. The stock may drift sideways if it cannot surpass the MYR2.35 threshold in the coming sessions. Support may be found at MYR2.15, where traders can exit upon a breach to minimise the downside risk.
Source: RHB Securities Research - 4 Sept 2018
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