RHB Retail Research
Trading Stocks - Malayan Flour Mills
Malayan Flour Mills tested the MYR0.635 support level at the intraday, and reacted positively – indicating the emergence of buying support. It indicates a good possibility that the rebound that started from the low of MYR0.615 may be extending. Subsequent resistance levels are marked at MYR0.675 and MYR0.70. A downside breach of MYR0.635 would nullify this trading set-up.
Source: RHB Securities Research - 7 Jan 2021
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