RHB Retail Research
Trading Stock - Boustead Plantations
Boustead Plantations is set to move higher as it managed to rebound higher after a sharp pullback yesterday. The rebound will be extended if it stays above the resistance-turn-support level of MYR0.61. Since the bullish momentum is gaining traction, expect the stock to travel towards the next resistance point of MYR0.64, followed by MYR0.685. However, this expectation will be invalid if it falls below the MYR0.60 support.
Source: RHB Securities Research - 7 May 2021
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