RHB Retail Research

Trading Stocks - MBM Resources

rhboskres
Publish date: Wed, 11 Sep 2019, 10:55 AM
rhboskres
0 9,021
RHB Retail Research
Following Message

MBM Resources formed a long white candle, indicating that the momentum of buying could be strong. Yesterday’s candle has sent the stock to its new 52-week high, thereby enhancing the bullish sentiment. A bullish bias may emerge above the MYR4.22 level, with an exit set below the MYR3.96 threshold. Towards the upside, the immediate resistance is at MYR4.70. This is followed by the MYR5.00 threshold.

Source: RHB Securities Research - 11 Sept 2019

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