RHB Retail Research
Trading Stocks - SLP Resources
SLP Resources crossed the resistance of MYR1.00, a critical psychological price level. We believe that the rounding bottom was completed on 6 Oct, and it is ready to extend the uptrend. The bullish momentum may continue above RM1.00 mark and climb towards MYR1.10, followed by MYR1.15. A downside breach of the MYR0.93 support would negate this expectation, and the stock may fall back into a sideways consolidation mode.
Source: RHB Securities Research - 20 Oct 2020
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