RHB Retail Research
Trading Stocks - Dancomech
Dancomech’s buying momentum may have returned after it recently rose above the 21-day SMA line. Last Friday’s white candle can be regarded as a continuation of the rebound that started off 20 Nov’s “Hammer” pattern. A positive bias may emerge above the MYR0.53 level, with an exit set below the MYR0.51 threshold. Towards the upside, the immediate resistance is at the MYR0.60 level, followed by the MYR0.655 threshold.
Source: RHB Securities Research - 25 Nov 2019
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