RHB Retail Research
Trading Stocks - Malaysian Genomics Research Centre
Malaysian Genomics Research Centre crossed above the MYR1.10 resistance on strong volume, extending its rebound off the 21-day SMA line. This can be seen as a positive price signal that the stock is in the process of extending its multi-month uptrend. A positive bias may appear above MYR1.10, with resistance levels set at MYR1.15 and MYR1.25. A downside breach of MYR1.07 would cancel this positive price expectation.
Source: RHB Securities Research - 26 Jan 2021
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