RHB Retail Research
Technical Analysis - Nestle (Malaysia)
Nestle (Malaysia) may climb higher after posting a white candle and hitting its highest close in more than seven months. This upward momentum is likely to continue, given that it has posted a second consecutive white candle. A bullish bias may emerge above the MYR148 level, with an exit set below the MYR142.80 threshold. Towards the upside, the immediate resistance is at MYR155.80. This is followed by the MYR163 level.
Source: RHB Securities Research - 3 Dec 2018
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