RHB Retail Research
Trading Stocks - Guan Chong
Guan Chong was testing the MYR4.70 threshold in recent sessions. A bullish bias may be present above this point, with a target price of MYR5.00, followed by MYR5.50. The stock may consolidate further if it cannot breach above the MYR4.70 mark in the coming sessions. Support may be found at MYR4.35, where traders can exit upon a breach to limit the downside risk.
Source: RHB Securities Research - 14 Oct 2019
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