RHB Retail Research
Trading Stocks - Southern Steel
Southern Steel was testing the MYR1.01 level in its latest session. A bullish bias may be present above this point, with a target price of MYR1.06, followed by MYR1.11. The stock may consolidate further if it cannot breach above the MYR1.01 threshold in the near term. Support may be found at MYR0.92, where traders can exit upon a breach to minimise the downside risk.
Source: RHB Securities Research - 6 Sept 2019
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