RHB Retail Research
Trading Stocks - Southern Cable
Southern Cable’s share price has jumped with a higher trading volume, breaking out from the immediate resistance marked at MYR0.43. With the latest positive price action, we think the stock is running at full steam, and is poised to trade higher to test the next hurdle at MYR0.46, followed by MYR0.50. A downside breach of the MYR0.39 support will negate this expectation and should see a share price correction.
Source: RHB Securities Research - 29 Dec 2020
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