RHB Retail Research
Trading Stocks - MBM Resources
MBM Resources may climb higher after forming a long white candle and hitting its new 52-week high. In view that the 21- day SMA line is likely to begin turning upwards, this implies a positive outlook sentiment. A bullish bias may emerge above the MYR2.73 level, with an exit set below the MYR2.60 threshold. Towards the upside, the immediate resistance is at MYR3.00. This is followed by the MYR3.20 level.
Source: RHB Securities Research - 14 Mar 2019
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