RHB Retail Research
Trading Stocks - Samchem
Samchem rose higher to test the immediate resistance level of MYR1.33. The stock just underwent consolidation recently. If the breakout is successful, the uptrend should resume and extend towards the next resistance levels of MYR1.39 and MYR1.44. A downside breach of the MYR1.23 support level would nullify this expectation, and trigger a further share price correction.
Source: RHB Securities Research - 5 Feb 2021
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