RHB Retail Research
Trading Stocks - Guan Chong
Guan Chong was testing the MYR2.13 level recently. If the price breaks out, a bullish bias may be present above this point, with a target price of MYR2.31, followed by MYR2.50. The stock may consolidate further if it cannot breach above the MYR2.13 threshold decisively in the near term. Support may be found at MYR1.90, where traders can exit upon a breach to limit the downside risk.
Source: RHB Securities Research - 2 Apr 2020
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