RHB Retail Research
Trading Stocks - Malaysian Pacific Industries
Malaysian Pacific Industries may move into uncharted territory as it has broken out above the multi-month consolidation phase on strong volume. The bullish bias that appeared above the breakout level of MYR41.48 should drive the stock towards a new high of MYR45.00, before it heads towards the MYR50.00 psychological level. Meanwhile, if the stock drops below the MYR39.50 support level, this trading set-up will no longer valid.
Source: RHB Securities Research - 15 Jul 2021
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