RHB Retail Research
Trading Stocks - Guan Chong
Guan Chong’s upside move may persist after it continued holding above the rising 55-day SMA line. As the stock marked a higher close vis-à-vis the previous session, this indicates a positive sign. A bullish bias may emerge above the MYR3.78 level, with an exit set below the MYR3.78 threshold. Towards the upside, the immediate resistance is at MYR4.20. This is followed by the MYR4.50 level.
Source: RHB Securities Research - 15 May 2019
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