RHB Retail Research
Trading Stocks - Malayan Flour Mills
Malayan Flour Mills jumped with higher trading volume to test the resistance level of MYR0.625. Notice that it underwent a sideways consolidation for six weeks, and was about to challenge the resistance mark since 21 Aug. If the breakout is successful, the stock could be propelled towards the next resistance of MYR0.66, followed by MYR0.70. Meanwhile, a downside breach of the MYR0.58 support should cancel this expectation.
Source: RHB Securities Research - 12 Oct 2020
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