RHB Retail Research
Technical Analysis - Cahya Mata Sarawak
Chaya Mata Sarawak tested the MYR3.15 threshold in its latest session. A breach above this mark would likely indicate that its 1-week sideways consolidation phase has reached an end, and that the rebound may resume. The immediate support is at MYR2.95, which can be used as an exit once breached. Moving up, the immediate resistance may emerge at MYR3.38, followed by MYR3.60.
Source: RHB Securities Research - 14 Nov 2018
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