RHB Retail Research
Trading Stocks - Melewar Industrial
Melewar Industrial may have completed its 1-week correction phase, as it continued to extend its rebound off the 21-day SMA line on improved volume. A positive bias is expected at above MYR0.47, with resistance levels marked at MYR0.535 and MYR0.58. A downside breach of MYR0.47 would render this forecast void.
Source: RHB Securities Research - 22 Jan 2021
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