RHB Retail Research
Trading Stocks - Globaltec Formation
Globaltec Formation is poised for technical breakout as it tested the MYR0.60 resistance level on high volume. If the breakout occurs, the bullish bias may emerge. The stock may then travel towards the next resistance of MYR0.65, followed by MYR0.70 – its multi-year high. If the stock falls below the MYR0.56 support, this anticipation would be cancelled.
Source: RHB Securities Research - 6 Jul 2021
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