RHB Retail Research
Trading Stocks - Superlon
Superlon bounced off the 21-day SMA line last Friday, and is poised to test the immediate resistance level of MYR0.98. The share price has been moving upwards with increased trading volume, indicating that the bulls are gaining traction. If it crosses the resistance, we will expect it to trend higher and test the next resistance level of MYR1.05, followed by MYR1.13. This positive expectation should remain valid, provided that the MYR0.90 support is not breached.
Source: RHB Securities Research - 14 Dec 2020
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