RHB Retail Research

Trading Stocks - Mieco Chipboard

rhboskres
Publish date: Mon, 07 Dec 2020, 09:42 AM
rhboskres
0 9,020
RHB Retail Research

Mieco Chipboard jumped above the resistance level, signalling the completion of its consolidation yesterday. As trading volume has increased, the stock is very likely to see its multiweek uptrend extended. A positive bias may emerge above MYR0.72, with resistance levels pegged at MYR0.78, followed by MYR0.82. A downside breach of the MYR0.68 support level would nullify this expectation, and lead to a further share price correction.

Source: RHB Securities Research - 7 Dec 2020

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