RHB Retail Research
Trading Stocks - Tex Cycle Technology
Tex Cycle Technology rebounded sharply after it tested the 21- day SMA line during the latest session, and tried to break above the multi-week downtrend line (as drawn in the chart). A positive bias may emerge, should the stock breach above the MYR0.44 resistance level. Our subsequent resistance points are at MYR0.47, followed by MYR0.50. A stop-loss can be set below MYR0.42.
Source: RHB Securities Research - 19 Jun 2020
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