RHB Retail Research
Trading Stocks - Binasat Communications
Binasat Communications may move higher after it tested the MYR0.355 support in recent sessions. Given that it has formed a long white candle above the rising 21-day SMA line, this means that the bullish sentiment has been enhanced. A positive bias may emerge above the MYR0.39 level, with an exit set below the MYR0.355 threshold. Towards the upside, the immediate resistance is at the MYR0.465 mark. This is followed by the MYR0.50 level.
Source: RHB Securities Research - 31 Oct 2019
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