RHB Retail Research
Trading Stocks: MBM Resources
MBM Resources may climb higher after posting a white candle and leaving an upside gap. This can be viewed as a continuation of the bulls extending the rebound from 25 Feb’s “Hammer” pattern. A bullish bias may emerge above the MYR2.70 level, with an exit set below the MYR2.48 threshold. Towards the upside, the immediate resistance is at MYR2.90. This is followed by the MYR3.00 level.
Source: RHB Securities Research - 1 Mar 2019
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