RHB Retail Research

Trading Stocks - Bermaz Auto

Publish date: Tue, 15 Feb 2022, 09:45 AM
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RHB Retail Research

Bermaz Auto is likely to print a new 52-week high, as it bounced upwards further while attempting to break above the immediate resistance of MYR1.71 or 52-week high – coupled with stronger volume. If a breakout happens above that level – printing a “higher high” bullish pattern, the bulls may drive the stock towards the next resistance level of MYR1.82, followed by MYR2.00 mark. Conversely, falling below the immediate support of MYR1.61 will trigger the resumption of a downward correction – below the 21-day average line.

Source: RHB Securities Research - 15 Feb 2022

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