RHB Retail Research
Trading Stocks - Favelle Favco
Favelle Favco formed a long white candle, indicating that the buying momentum could be strong. In view that the 21-day SMA line will likely begin turning upwards, this is an indication of a positive sign. A bullish bias may emerge above the MYR2.78 level, with an exit set below the MYR2.63 threshold. Towards the upside, the immediate resistance is at MYR2.90 level. This is followed by the MYR3 threshold.
Source: RHB Securities Research - 29 Aug 2019
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