RHB Retail Research
Trading Stocks - DRB-HICOM
DRB-HICOM’s upside move may persist after it continued holding above the rising 21-day SMA line. Given that it has formed a long white candle above the 21-day SMA line, this means the bullish sentiment has been enhanced. A positive bias may emerge above the MYR2.55 level, with an exit set below the MYR2.38 threshold. Towards the upside, the immediate resistance is at the MYR2.72 level. This is followed by the MYR2.80 point.
Source: RHB Securities Research - 7 Aug 2019
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