DRB-HICOM may climb higher after posting a long white candle and hitting its new 52-week high. This can be viewed as a continuation of the bulls extending the rebound from 6 Aug’s “Piercing Line” pattern. A bullish bias may emerge above the MYR2.60 level, with an exit set below the MYR2.46 threshold. Towards the upside, the immediate resistance is at MYR2.80 level. This is followed by the MYR3.00 level.
Source: RHB Securities Research - 16 Aug 2019
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Created by rhboskres | Aug 26, 2024