RHB Retail Research
Trading Stocks - Poh Kong Holdings
Poh Kong Holdings is expected to rebound after it bounced off from the support, breaking above the immediate resistance on strong volume yesterday. Premised on a higher low formation recently, the positive momentum above the MYR0.79 resistance-turned-support level is expected to retest its immediate resistance of MYR0.82, followed by MYR0.86. Meanwhile, a reversal towards below MYR0.775 would negate this trading set-up.
Source: RHB Securities Research - 23 Apr 2021
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