RHB Retail Research
Trading Stocks - Cahya Mata Sarawak
Cahya Mata Sarawak crossed above the 21-day SMA line with higher trading volume. We observed bullish bias emerge above the immediate resistance level of MYR2.00. Underpinned by strong buying interest, we expect the momentum to travel towards the next resistance level of MYR2.12, followed by MYR2.30. This positive expectation should remain valid, provided the MYR1.82 support is not breached.
Source: RHB Securities Research - 3 Feb 2021
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