RHB Retail Research
Trading Stocks - Luxchem
Luxchem showed early signs of breaking out, after consolidating sideways near the resistance level of MYR0.85. If it could trade above the resistance level, we think that the uptrend will resume, and it will test the next resistance levels of MYR0.92 and MYR0.97. Meanwhile, a downside breach of the support level of MYR0.78 would nullify this expectation.
Source: RHB Securities Research - 12 Oct 2020
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