Ranhill’s upside move may persist after it continued holding above the rising 55-day SMA line. As the stock has formed a “Hammer” pattern on 10 Dec, this indicates a potential rebound. A bullish bias may emerge above the MYR1.14 level, with an exit set below the MYR1.05 level. Towards the upside, the immediate resistance is at MYR1.25. This is followed by the MYR1.33 level.
Source: RHB Securities Research - 11 Dec 2018
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Created by rhboskres | Aug 26, 2024