RHB Retail Research
Trading Stocks - Malton
Malton jumped on a spike in trading volume last Friday, extending the uptrend to test the higher resistance level. The stock crossed the resistance level of MYR0.50. The positive momentum should send the share price upwards – testing the next hurdle of MYR0.54, followed by MYR0.57. A downside breach of the MYR0.465 support would negate this expectation, and shall trigger a stock price correction.
Source: RHB Securities Research - 21 Dec 2020
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