RHB Retail Research
Trading Stocks - Thong Guan Industries
Thong Guan Industries may rebound higher after it continued holding above the MYR4.00 support. Yesterday’s white candle has engulfed the prior one to form a “Bullish Engulfing” pattern, implying a potential rebound. A positive bias may emerge above the MYR4.10 level, with an exit set below the MYR4.00 threshold. Towards the upside, the immediate resistance is at the MYR4.50 mark, followed by the MYR4.80 level.
Source: RHB Securities Research - 21 Feb 2020
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