RHB Retail Research
Trading Stocks - Cahya Mata Sarawak
Cahya Mata Sarawak is on track to reach a 6-month high. The stock jumped above the resistance level of MYR1.80, with higher trading volume. The stock is rising in tandem with increasing trading volume, indicating strong buying interest. If it can stay above the resistance level, we think the bullish trend may climb towards next resistance of MYR2.00, followed by MYR2.20. This positive expectation should remain valid if the MYR1.65 support is not breached.
Source: RHB Securities Research - 3 Dec 2020
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