RHB Retail Research
Trading Stocks - BP Plastics Holding
BP Plastics Holding is in the midst of consolidating sideways following a pullback recently – retracing with tapering volumes. If a breakout occurs above the immediate resistance of MYR2.90, the bulls may propel the stock towards the uncharted territory of MYR3.10, followed by MYR3.20. This expectation will be reversed if it falls below the support level of MYR2.77 – forming a “lower low” bearish pattern.
Source: RHB Securities Research - 12 Nov 2021
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