Guan Chong formed a long white candle yesterday, indicating that the momentum of buying could be strong. With the 21-day SMA line edging upwards, this also implies a positive outlook. A bullish bias may emerge above the MYR2.90 level, with an exit set below the MYR2.66 threshold. Towards the upside, the immediate resistance is at MYR3.20. This is followed by the MYR3.50 level.

Source: RHB Securities Research - 5 Dec 2018