RHB Retail Research
Trading Stocks - MCT
MCT exhibited a positive price action after it recoiled from the nearest support level. As the stock is trading above the resistance-turned-support level of MYR0.225, and forming a “higher low”, the uptrend remains intact. If the bullish momentum picks up, the stock may retest the resistance of MYR0.26, followed by MYR0.275. A breakdown below the MYR0.215 support would negate this expectation.
Source: RHB Securities Research - 25 Mar 2021
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