RHB Retail Research
Trading Stocks - Malayan Flour Mills
Malayan Flour is attempting to stage a breakout from the consolidation zone. It bounced off the support to retest the resistance on strong volume last week. A positive bias may emerge if it crosses above the immediate resistance of MYR0.96. If a breakout happens, the stock may test the next resistance level of MYR1.01, followed by MYR1.06 Meanwhile, falling below the MYR0.90 support level may change this direction.
Source: RHB Securities Research - 10 May 2021
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