RHB Retail Research
Trading Stocks - Thong Guan Industries
Thong Guan industries may trend higher after it formed a long white candle and hit its new 52-week high. This could be viewed as a continuation of the bulls extending the rebound from the 23 Oct’s “Hammer” pattern. A positive bias may emerge above the MYR2.95 level, with an exit set below the MYR2.72 threshold. Towards the upside, the immediate resistance is at MYR3.20. This is followed by the MYR3.37 level.
Source: RHB Securities Research - 8 Nov 2019
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