RHB Retail Research
Trading Stocks - Kumpulan Powernet
Kumpulan Powernet has been consolidating sideways, with the immediate resistance set at MYR3.12. With the 21-day SMA line heading north, we believe the uptrend will remain intact and it may flip above the resistance soon. If this happens, expect it to rebound towards MYR3.21, followed by MYR3.32. A downside breach of the MYR3.00 support would nullify this expectation.
Source: RHB Securities Research - 25 Sept 2020
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