RHB Retail Research
Trading Stocks - Mieco Chipboard
Mieco Chipboard surged with greater trading volume, breaking past the immediate resistance marked at MYR0.96. Riding on the bullish momentum, the stock is scaling higher towards the next resistance pegged at MYR1.03, followed by MYR1.10. A downside breach of the MYR0.875 support would negate this expectation, and shall see a stock price correction.
Source: RHB Securities Research - 18 Feb 2021
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