RHB Retail Research
Trading Stocks - Thong Guan Industries
Thong Guan’s latest three sessions’ price actions indicate that its sharp multi-week retracement may have reached an interim low, and a counter-trend rebound is likely in progress. A positive bias may appear above MYR2.35, with resistance levels pegged at MYR2.50 and MYR2.60. A downside breach of MYR2.35 would negate this positive bias.
Source: RHB Securities Research - 11 Jan 2021
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