RHB Retail Research
Technical Analysis - Chin Well
Chin Well’s buying momentum may have returned after it rose above the 21-day SMA line. The upward momentum would likely continue, given that it has breached above the downtrend line drawn in the chart. A bullish bias may emerge above the MYR1.75 level, with an exit set below the MYR1.63 threshold. Towards the upside, the immediate resistance is at MYR1.89. This is followed by the MYR2.00 level.
Source: RHB Securities Research - 2 Nov 2018
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