RHB Retail Research
Trading Stocks - Ranhill Utilities
Ranhill Utilities has likely reached its interim low after it tested the MYR0.815 support in Nov 2020 and rebounded from that level, thereby forming a possible “Double-Bottom” formation. A positive bias may appear above MYR0.84, with resistance levels marked at MYR0.915 and MYR0.98. A downside breach of MYR0.84 would nullify this positive price forecast.
Source: RHB Securities Research - 5 Jan 2021
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