RHB Retail Research
Trading Stocks - P.I.E. Industrial
P.I.E. Industrial may rebound further after it tested the MYR1.39 support in recent sessions. Given that the stock has formed a “Hammer” pattern on 13 Dec, this indicates a potential rebound. A positive bias may emerge above the MYR1.47 level, with an exit set below the MYR1.39 threshold. Towards the upside, the immediate resistance is at the MYR1.60 level, followed by the MYR1.70 threshold.
Source: RHB Securities Research - 17 Dec 2019
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