RHB Retail Research
Trading Stocks - Cahya Mata Sarawak
Cahya Mata Sarawak has been developing a minor consolidation in recent sessions around the 21-day SMA line, after its recent rebound. Towards the upside, if the stock is able to cross above the MYR2.36 resistance, this would mark an end to the minor consolidation, and the stock could swing towards the next resistance levels of MYR2.52 and MYR2.60. A downside breach of MYR2.28 would nullify this positive bias.
Source: RHB Securities Research - 18 Mar 2021
Source: RHB Securities Research - 18 Mar 2021
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