RHB Retail Research
Trading Stocks - Malton
Malton has been developing a minor sideways trading pattern in recent sessions – to digest its previous sharp rebound off the 21-day SMA line. A rebound extension should be confirmed if the stock breaks above the MYR0.525 resistance. The next resistance levels are set at MYR0.55 and MYR0.60. A downside breach of MYR0.51 would cancel this hypothesis.
Source: RHB Securities Research - 17 Mar 2021
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