RHB Retail Research
Trading Stocks - MBM Resources
MBM Resources is set for a positive rebound as it bounced off its support and subsequently breached the sideways consolidation level of MYR3.20 on high volumes. If it stays above that level, the bullish momentum may propel the stock towards the recent high of MYR3.30, then to June’s high of MYR3.40. This expectation will be nullified if it falls below the support level of MYR3.15.
Source: RHB Securities Research - 5 Nov 2021
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