RHB Retail Research
Trading Stocks - Poh Kong Holdings
Poh Kong Holdings is poised for another rally after it retraced towards the support and bounced off recently. With volume tapering during the retracement, it is likely that the stock has found its footing. If it manages to climb above the immediate resistance of MYR0.91, a bullish bias should emerge. If that happens, it may climb further towards the next resistance levels of MYR0.94 and MYR1.05. Meanwhile, breaching below the MYR0.865 support level may invalidate this expectation.
Source: RHB Securities Research - 31 May 2021
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