RHB Retail Research
Trading Stocks - Ranhill
Ranhill may rebound further after it tested the MYR0.97 support lately. 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 MYR1.00 level, with an exit set below the MYR0.97 mark. Towards the upside, the immediate resistance is at the MYR1.07 level, followed by the MYR1.11 threshold.
Source: RHB Securities Research - 29 Apr 2020
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