RHB Retail Research
Trading Stocks - Magnum
Magnum may climb higher after forming a white candle and hitting its new 52-week high. In view that the 21-day SMA line is likely to begin turning upwards, this implies a positive outlook sentiment. A positive bias may emerge above the MYR2.80 level, with an exit set below the MYR2.66 threshold. Towards the upside, the immediate resistance is at the MYR2.90 level. This is followed by the MYR3.00 level.
Source: RHB Securities Research - 28 Aug 2019
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