RHB Retail Research
Technical Analysis - Superlon
Superlon’s buying momentum may have returned after it rose above the 21-day SMA line. Yesterday’s white candle can be viewed as the bulls extending the rebound from 7 Sep’s “Bullish Engulfing” pattern. A bullish bias may emerge above the MYR1.25 level, with an exit set below the MYR1.17 threshold. Towards the upside, the immediate resistance is at MYR1.40. This is followed by the MYR1.50 level.
Source: RHB Securities Research - 20 Sept 2018
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