RHB Retail Research
Technical Analysis - Sam Engineering & Equipment (M)
Sam Engineering & Equipment may rise higher after posting a long white candle for the second consecutive day. Yesterday’s close sent the stock to its new 52-week high, thereby enhancing the bullish sentiment. A bullish bias may appear above the MYR7.85 level, with an exit set below the MYR7.36 threshold. To the upside, the near-term resistance is at MYR8.50. This is followed by the MYR9.00 level.
Source: RHB Securities Research - 4 Oct 2018
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