RHB Retail Research
Trading Stocks - Malaysian Bulk Carriers
Malaysian Bulk Carriers could be in the process of extending its multi-month sideways trading range as it crossed above the 21- day SMA line on strong volume following its recent completion of a bottom-building process. A positive bias will likely appear above MYR0.495, with resistance levels pegged at MYR0.55 and MYR0.60. A downside breach of MYR0.495 would negate this bias.
Source: RHB Securities Research - 9 Mar 2021
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