Encorp is expected to move away from the immediate resistance point of MYR0.335 after being tested yesterday on strong trading volume. If a breakout happens, the positive momentum will lift the stock towards the next resistance of MYR0.38 before reaching the year-to-date high of MYR0.48. However, falling below the MYR0.31 support – below the 21- day SMA line – may signal a downtrend.
Source: RHB Securities Research - 2 Sept 2021
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Created by rhboskres | Aug 26, 2024