RHB Retail Research
Technical Analysis - QL Resources
QL Resources may move higher after it tested the MYR6.65 support yesterday. Given that the stock has formed a “Bullish Engulfing” pattern on 5 Dec, this indicates a potential rebound. A bullish bias may appear above the MYR6.90 level, with an exit set below the MYR6.65 threshold. Towards the upside, the near-term resistance is at MYR7.33. This is followed by the MYR7.63 level.
Source: RHB Securities Research - 6 Dec 2018
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