RHB Retail Research
Trading Stocks - Guan Chong
Guan Chong has been on the retracement mode over the past six weeks – we deem this as a healthy correction from its prior multi-month upward move. The retracement is now nearing the support level of MYR3.43. A positive bias may emerge above this point, with the stop-loss placed below the same threshold. Towards the upside, the immediate resistance is eyed at MYR4.00, followed by MYR4.20.
Source: RHB Securities Research - 19 Jun 2019
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