RHB Retail Research
Trading Stocks - Guan Chong
Guan Chong formed a long white candle, indicating that the momentum of buying could be strong. This can be viewed as a continuation of the bulls extending the rebound from 29 Aug’s “Hammer” pattern. A positive bias may emerge above the MYR4.08 level, with an exit set below the MYR3.85 threshold. Towards the upside, the immediate resistance is at the MYR4.40 level. This is followed by the MYR4.60 level.
Source: RHB Securities Research - 3 Oct 2019
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