Guan Chong’s buying momentum may have returned after it rose above the 21-day SMA line. Last Friday’s white candle sent the stock to its 1-month high, thereby enhancing the bullish sentiment. A bullish bias may appear above the MYR3.70 level, with an exit set below the MYR3.45 threshold. Towards the upside, the near-term resistance is at MYR4.00. This is followed by the MYR4.30 level.

Source: RHB Securities Research - 15 Apr 2019