RHB Retail Research
Trading Stocks - Tiong Nam Logistics
Tiong Nam Logistics may rebound higher after it continued holding above the MYR0.26 support. Yesterday’s white candle has engulfed the prior one to form a “Bullish Engulfing” pattern, implying a potential rebound. An upbeat bias may emerge above the MYR0.30 level, with an exit set below the MYR0.26 mark. Towards the upside, the immediate resistance is at the MYR0.375 level, followed by the MYR0.405 threshold.
Source: RHB Securities Research - 20 Mar 2020
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