RHB Retail Research
Trading Stocks - Thong Guan Industries
Thong Guan Industries may climb higher after posting a white candle and hitting its new 52-week high. As the 21-day SMA line will likely begin turning upwards, this is a positive sign. A positive bias may emerge above the MYR3.70 level, with an exit set below the MYR3.52 mark. Towards the upside, the immediate resistance is at the MYR4.00 level, followed by the MYR4.20 threshold.
Source: RHB Securities Research - 6 Feb 2020
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