RHB Retail Research
Trading Stocks - SKP Resources
SKP Resources rose higher to test the resistance level of MYR1.90, with a higher trading volume. We think that the correction since 1 Oct should be complete, and the stock is resuming its uptrend. If the resistance point of MYR1.90 is breached, the next levels will be at MYR1.98 and MYR2.06. That said, a downside breach of the MYR1.78 support will negate this expectation, and the stock could see a further price correction.
Source: RHB Securities Research - 13 Oct 2020
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