RHB Retail Research
Trading Stocks - Guan Chong
Guan Chong is eyeing its historical high as it breached the recent high of MYR3.08 on surging volume – forming a “higher high” bullish pattern. If it stays above that level, the bullish momentum may lift the stock towards the MYR3.43 resistance, followed by the MYR3.79 all-time high. Meanwhile, the stock may move downwards if it falls beneath the MYR2.91 support – printing a “lower low” bearish structure.
Source: RHB Securities Research - 6 Oct 2021
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