RHB Retail Research
Trading Stocks - Southern Steel
Southern Steel may move higher after it continued holding above the MYR0.90 support. Given that it has formed a long white candle above the 21-day SMA line, this has enhanced the buying momentum. A bullish bias may emerge above the MYR0.975 level, with an exit set below the MYR0.90 threshold. Towards the upside, the immediate resistance is at MYR1.10. This is followed by the MYR1.20 level.
Source: RHB Securities Research - 16 Jul 2019
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