RHB Retail Research
Trading Stocks - SDS Group
SDS Group rose higher yesterday, as it tried to break out from the immediate resistance. The stock has been climbing higher since crossing the 21-day SMA line in November. It also underwent a minor pullback recently. If the breakout from the immediate resistance of MYR0.235 is successful, the uptrend should resume. As such, the stock would drift towards the next resistance of MYR0.26, followed by MYR0.285. A downside breach of the MYR0.21 support would negate this expectation, and result in a stock price correction.
Source: RHB Securities Research - 15 Dec 2020
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