RHB Retail Research
Trading Stocks - Mudajaya Group
Mudajaya may rise higher after forming a long white candle and hitting its new 52-week high. This can be viewed as a continuation of the bulls extending the buying momentum from 2 Dec’s upside gap. A positive bias may emerge above the MYR0.375 level, with an exit set below the MYR0.345 threshold. Towards the upside, the immediate resistance is at the MYR0.455 mark. This is followed by the MYR0.50 level.
Source: RHB Securities Research - 10 Dec 2019
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