RHB Retail Research
Trading Stocks - Guan Chong
Guan Chong’s buying momentum may have returned after it rose above the 21-day SMA line. Given that it has formed a positive candle for the second consecutive day, the positive sentiment has been enhanced. A positive bias may emerge above the MYR2.42 level, with an exit set below the MYR2.30 threshold. Towards the upside, the immediate resistance is at the MYR2.70 mark. This is followed by the MYR2.80 level.
Source: RHB Securities Research - 19 Nov 2019
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