RHB Retail Research
Technical Analysis - London Biscuits
London Biscuits may climb higher after posting another white candle and hitting its highest close in nearly a month. The upward momentum would likely continue, given that it has breached above the downtrend line drawn in the chart. A bullish bias may appear above the MYR0.555 level, with an exit set below the MYR0.52 threshold. Towards the upside, the near-term resistance is at MYR0.59. This is followed by the MYR0.61 level.
Source: RHB Securities Research - 22 Oct 2018
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