RHB Retail Research
Trading Stocks - Malayan Cement
Malayan Cement is moving out from its 3-week consolidation phase on the back of surging volume. This upward movement is likely to be extended, if it manages to stay above the resistance-turned-support level of MYR2.60. The next resistance levels are marked at MYR2.80, and its multi-month high of MYR3.03. This expectation would be invalidated if the MYR2.50 support fails.
Source: RHB Securities Research - 23 Mar 2021
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