RHB Retail Research
Trading Stocks - Parlo
Parlo has broken out from the resistance level amid higher trading volumes. With the latest positive price action, we think a bullish bias has emerged above the MYR0.63 resistance level. The bullish momentum will drive the stock towards the next resistance threshold marked at MYR0.69 – this is followed by the MYR0.74 mark. A downside breach of the MYR0.56 support level will nullify this expectation and see further share price corrections.
Source: RHB Securities Research - 16 Dec 2020
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