RHB Retail Research
Trading Stocks - Malayan Cement
Malayan Cement crossed above MYR2.43 amid higher trading volume. The 21-day SMA line is curving upwards, indicating a firmer uptrend. Riding on the bullish momentum, we think the stock will climb higher to test the next hurdle of MYR2.60, followed by MYR2.73. A downside breach of the MYR2.25 support would negate this expectation, and lead to a stock price correction.
Source: RHB Securities Research - 24 Feb 2021
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