RHB Retail Research
Trading Stocks - Guan Chong
Guan Chong may rise higher after it breached above the MYR4.70 threshold. Yesterday’s candle sent the stock to its new 52-week high, thereby enhancing the bullish sentiment. A positive bias may emerge above the MYR4.70 level, with an exit set below the MYR4.38 threshold. Towards the upside, the immediate resistance is at the MYR5.00 level. This is followed by the MYR5.50 level.
Source: RHB Securities Research - 18 Oct 2019
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