RHB Retail Research
Trading Stocks - Southern Steel
Southern Steel may move higher after it tested the MYR1.04 support recently. Given that it has formed a long white candle above the rising 21-day SMA line, the bullish sentiment has been enhanced. A bullish bias may appear above the MYR1.10 level, with an exit set below the MYR1.04 threshold. Towards the upside, the near-term resistance is at MYR1.26. This is followed by the MYR1.37 level.
Source: RHB Securities Research - 22 Jul 2019
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