RHB Retail Research
Trading Stocks - Ajinomoto (Malaysia)
Ajinomoto formed a long white candle, indicating that the momentum of buying could be strong. Yesterday’s candle sent the stock to its 6-week high, thereby enhancing the bullish sentiment. A bullish bias may emerge above the MYR17.60 level, with an exit set below the MYR17.10 threshold. Towards the upside, the immediate resistance is at MYR18.38. This is followed by the MYR19.00 level.
Source: RHB Securities Research - 28 May 2019
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