RHB Retail Research
Trading Stocks - Prolexus
Prolexus may rebound higher after attempting to break above the MYR1.18 immediate resistance level on higher volume. A “higher low” structure formed recently – this shows an uptrend continuation is underway. If it manages to move above the MYR1.18 immediate resistance level, the next resistance level can be projected at MYR1.24, followed by MYR1.30. Meanwhile, falling below MYR1.12 would negate this expectation.
Source: RHB Securities Research - 27 Apr 2021
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