RHB Retail Research

Trading Stocks - Pelikan International

Publish date: Fri, 24 Dec 2021, 05:09 PM
0 9,020
RHB Retail Research

Pelikan International is in the midst of rebounding higher, as it bounced off the support following a recent pullback – heading towards the immediate resistance. If it manages to move past the immediate resistance of MYR0.555 – reclaiming a spot above the recent breakout level – buying pressure should continue to push the stock towards the resistance of MYR0.585, followed by MYR0.63. If it falls below the MYR0.525 support, the momentum may be reversed.

Source: RHB Securities Research - 24 Dec 2021

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