RHB Retail Research
Technical Analysis - Dancomech
Dancomech formed a long white candle, indicating that the momentum of buying could be strong. This has sent the stock to its highest close in more than 11 months, thereby enhancing the positive sentiment. A bullish bias may emerge above the MYR0.515 level, with an exit set below the MYR0.47 threshold. Towards the upside, the immediate resistance is at MYR0.60. This is followed by the MYR0.65 level.
Source: RHB Securities Research - 28 Sept 2018
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