RHB Retail Research
Trading Stocks - Pecca Group
Pecca Group’s buying momentum may have returned after it rose above the 21-day SMA line. Last Friday’s candle can be viewed as a continuation of bulls extending the rebound from 1 Aug’s “Hammer” pattern. A positive bias may emerge above the MYR1.16 level, with an exit set below the MYR1.10 threshold. Towards the upside, the immediate resistance is at the MYR1.24 level. This is followed by the MYR1.30 level.
Source: RHB Securities Research - 5 Aug 2019
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