RHB Retail Research
Trading Stocks - Pharmaniaga
Pharmaniaga is extending its uptrend as it gapped up on surging volume yesterday. Premised with a “higher low” price pattern, the stock is expected to continue its bullish bias above its resistance-turn-support at MYR4.36. The next resistance levels are eyed at MYR4.80 and MYR5.00. If it falls below the MYR4.16 support, the stock may reverse its direction.
Source: RHB Securities Research - 25 May 2021
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