RHB Retail Research
Technical Analysis - Guan Chong
Guan Chong may rise higher after it breached above the MYR2.50 threshold. Yesterday’s close has sent the stock to its new 52-week high, thereby enhancing the bullish sentiment. A bullish bias may emerge above the MYR2.50 level, with an exit set below the MYR2.23 threshold. Towards the upside, the immediate resistance is at MYR2.80. This is followed by the MYR3.00 level.
Source: RHB Securities Research - 8 Nov 2018
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