RHB Retail Research
Trading Stocks - EG Industries
EG Industries has been developing a possible minor sideways consolidation phase over the past four sessions, below the MYR0.61 resistance. Should the stock cross above this resistance, this would imply a strong likelihood of an upward extension – with the next resistance levels pegged at MYR0.69 and MYR0.75. A downside breach of MYR0.57 would invalidate this trading set-up.
Source: RHB Securities Research - 6 Jan 2021
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