RHB Retail Research
Trading Stocks - Boilermech
Boilermech attempted to extend the upward move, testing the resistance level of MYR0.905. As trading volume has picked up over recent sessions, we believe the bullish momentum will be extended, and the stock will break out from the resistance soon. If this happens, the next resistance level is set at MYR0.94, followed by MYR0.98. Meanwhile, a downward breach of the MYR0.83 support will negate this expectation.
Source: RHB Securities Research - 7 Dec 2020
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