RHB Retail Research
Trading Stocks - Petronas Chemicals Group
At the time of writing, Petronas Chemicals Group is holding below the MYR5.60 resistance. If the price breaks out, a bullish bias may be present above this point with a target price of MYR6.08, followed by MYR6.57. The stock may take a breather if it cannot breach above the MYR5.60 mark in the near term. Support may be found at MYR5.05, where traders can exit upon a breach to minimise the downside risk.
Source: RHB Securities Research - 20 May 2020
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