RHB Retail Research
Trading Stocks - Kumpulan Powernet
Kumpulan Powernet’s upward move following the 2 Nov “Hammer” formation has been stalling over the past two sessions, as the stock remained below the MYR3.55 resistance. An upside breach of this level could see it moving towards MYR3.64, followed by MYR3.75. This bias would stay valid, if the MYR3.47 support level is not breached.
Source: RHB Securities Research - 11 Nov 2020
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