RHB Retail Research
Trading Stocks - Chemical Company of Malaysia
Chemical Company of Malaysia formed a long white candle, indicating that the momentum of buying could be strong. This can be viewed as a continuation of the bulls extending the buying momentum from 23 Apr’s upside gap. An upbeat bias may emerge above the MYR0.98 level, with an exit set below the MYR0.90 mark. Towards the upside, the immediate resistance is at the MYR1.16 level, followed by the MYR1.22 threshold.
Source: RHB Securities Research - 27 Apr 2020
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