RHB Retail Research
Trading Stocks - Coastal Contracts
Coastal Contracts is set to scale higher after it moved past the immediate resistance of MYR1.92 on strong volume, thereby printing a “higher high” bullish pattern. With that, the bulls are expected to climb towards the next resistance level of MYR2.27, followed by MYR2.80. Conversely, falling below the MYR1.78 support will trigger selling pressure and reverse the momentum, thereby sparking a downtrend.
Source: RHB Securities Research - 9 Feb 2022
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