RHB Retail Research
Trading Stocks - Chemical Co Of Malaysia
Chemical Co of Malaysia’s breakaway from the MYR1.27 resistance on improved volume likely marked an end of its consolidation phase around the 21-day SMA line. A positive bias may appear above MYR1.27, with subsequent resistance points set at MYR1.45 and MYR1.50. A downside breach of MYR1.27 would nullify this positive expectation.
Source: RHB Securities Research - 7 Oct 2020
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