RHB Retail Research
Trading Stocks - SAM Engineering & Equipment (M)
SAM Engineering & Equipment’s buying momentum may have returned after it recently rose above the 21-day SMA line. This upward momentum is likely to continue, given that it has posted a third consecutive white candle. An upbeat bias may emerge above the MYR5.60 level, with an exit set below the MYR5.10 mark. Towards the upside, the immediate resistance is at the MYR6.36 level, followed by the MYR7.00 threshold.
Source: RHB Securities Research - 20 Apr 2020
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