RHB Retail Research
Trading Stocks - Malaysia Smelting Corporation
Malaysia Smelting Corporation is set for an uptrend reversal after it bounced off the 21-day SMA line to breach above the immediate resistance of MYR2.20. Underpinned by surging trading volume with a “White Marubozu” candlestick, the momentum may propel the stock towards the next resistance of MYR2.85, before reaching MYR3.34. Meanwhile, breaching below the MYR2.01 support would see the momentum fade away.
Source: RHB Securities Research - 13 Aug 2021
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