RHB Retail Research
Trading Stocks - MAG Holdings
MAG Holdings broke above the MYR0.215 resistance on improved volume profile, likely marking an end to its narrow sideway trading pattern. Additionally, the 21-day SMA line is also showing initial signs of curving upward. A positive bias may appear above MYR0.215 with resistance levels eyed at MYR0.25 and MYR0.28. This thesis would be negated if the MYR0.215 level fails to hold.
Source: RHB Securities Research - 24 Nov 2020
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