RHB Retail Research
Trading Stocks - Malaysian Resources Corporation
MRCB formed a white candle to break out from its 2-week consolidation phase, which took place just above the 21-day SMA line. This indicates a good possibility that it will be able to scale even higher. A positive bias is expected above MYR0.425, with resistance levels pegged at MYR0.475 and MYR0.50. A downside breach of MYR0.425 would cancel this expectation.
Source: RHB Securities Research - 2 Mar 2021
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