RHB Retail Research
Trading Stocks - Mega First Corp
Mega First Corp may move higher after it formed a second consecutive positive candle. Given that the stock formed a “Bullish Engulfing” pattern on 29 Jan, this indicates a potential rebound. A positive bias may emerge above the MYR5.25 level, with an exit set below the MYR5.10 mark. Towards the upside, the immediate resistance is at the MYR5.60 level, followed by the MYR5.80 threshold.
Source: RHB Securities Research - 31 Jan 2020
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