RHB Retail Research
Technical Analysis - Muda
Muda’s uptrend is considered intact as it still remains above the rising 21-day SMA line. Yesterday’s white candle can be viewed as the bulls extending the upward momentum from 23 Nov’s upside gap. A bullish bias may emerge above the MYR1.96 level, with an exit set below the MYR1.81 level. Towards the upside, the immediate resistance is at MYR2.22. This is followed by the MYR2.40 level.
Source: RHB Securities Research - 4 Dec 2018
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