RHB Retail Research
Trading Stocks - Samchem
Samchem may move higher after it tested the MYR0.715 support in its latest session. Since it has formed a long white candle above the rising 21-day SMA line, the bullish sentiment has been enhanced. A positive bias may emerge above the MYR0.735 level, with an exit set below the MYR0.715 threshold. Towards the upside, the immediate resistance is at the MYR0.80 mark. This is followed by the MYR0.85 level.
Source: RHB Securities Research - 25 Nov 2019
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