RHB Retail Research
Trading Stocks - Latitude Tree
Latitude Tree touched the immediate resistance of MYR4.23 with high trading volume. The stock has been moving north since crossing the 21-day SMA line. If it breaks above the resistance, we believe the momentum will drive it towards the next hurdle of MYR4.40, followed by MYR4.60. A downside breach of the MYR3.93 support would negate this expectation, and lead to a stock price correction.
Source: RHB Securities Research - 5 Feb 2021
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