RHB Retail Research
Technical Analysis - Wegmans
Wegmans formed a long white candle, indicating that the momentum of buying could be strong. In view of the positive slope of the 55-day SMA line, this suggests the likelihood of increased demand in the coming sessions. A bullish bias may emerge above the MYR0.36 level, with an exit set below the MYR0.30 threshold. Towards the upside, the immediate resistance is at MYR0.42. This is followed by the MYR0.45 level.
Source: RHB Securities Research - 17 Oct 2018
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