RHB Retail Research
Trading Stocks - EG Industries
EG Industries attempted to break away from its 2-week sideways trading pattern, which took place above the 21-day SMA line, on improving volume profile. An upside breach of MYR0.54 could see the stock swinging towards the next resistance levels of MYR0.625 and MYR0.69. A downside breach of MYR0.52 would nullify this positive expectation.
Source: RHB Securities Research - 7 Dec 2020
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