RHB Retail Research
Trading Stocks - Nestcon
Nestcon has renewed its bullish momentum following the recent pullback yesterday as it bounced off above the 21-day average line, while breaching the MYR0.43 immediate resistance – printing a “White Marubozu” candlestick. If it manages to stay above that point, the bulls may drive the stock towards the resistance of MYR0.48, followed by MYR0.50. Conversely, falling below the MYR0.415 support level will cancel this expectation.
Source: RHB Securities Research - 18 Nov 2021
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