RHB Retail Research
Trading Stocks - Pelikan International Corporation
Pelikan International Corporation is ready to rebound higher towards the 52-week high after it bounced off to breach the immediate resistance of MYR0.445 yesterday – coupled with improved volume. If the breakout is sustained, the positive momentum above that level may propel the stock towards the immediate resistance of MYR0.485, then MYR0.55. Conversely, falling below the MYR0.42 support will nullify this expectation.
Source: RHB Securities Research - 12 Oct 2021
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