RHB Retail Research
Trading Stocks - Gadang
Gadang has been developing a sideways consolidation phase over the past two weeks, which saw prices retest the 21-day SMA line. It attempted to break away from this consolidation phase in the latest session on strong volume. Towards the upside, a positive bias is expected above MYR0.43 with resistance levels marked at MYR0.445 and MYR0.47. A downside breach of MYR0.415 would cancel this expectation.
Source: RHB Securities Research - 8 Mar 2021
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