RHB Retail Research
Trading Stocks - Evergreen Fibreboard
Evergreen Fibreboard has been showing signs of developing a minor consolidation below the MYR0.445 threshold, a level that coincides with the multi-week downtrend and 21-day SMA lines. An upside breach of MYR0.445 could see the stock extend its rebound, with the next resistance levels set at MYR0.48 and MYR0.52. A downside breach of the MYR0.415 support would negate this expectation.
Source: RHB Securities Research - 15 Jan 2021
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