RHB Retail Research
Trading Stocks - Samchem
Samchem is poised to breakout from a two-month high, testing the resistance level of MYR1.14. With the latest price action, we think that it will extend the uptrend on the back of increasing trading volume. If it breaks above the resistance of MYR1.14, the next resistance level will be MYR1.20, followed by MYR1.28. Meanwhile, a downward breach of the MYR1.05 support should cancel this expectation.
Source: RHB Securities Research - 20 Oct 2020
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