RHB Retail Research

Trading Stocks - Evergreen Fibreboard

Publish date: Wed, 16 Feb 2022, 01:02 PM
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RHB Retail Research

Evergreen Fibreboard is eyeing to cross above the 52-week high as it bounced upwards towards the immediate resistance of MYR0.58 yesterday – printing a “White Marubozu” coupled with high trading volume. If it moves past that level, the bulls may climb towards printing a multi-year high level at MYR0.625 followed by the MYR0.705 mark – its highest level since Jan 2018. However, the momentum may lose steam if it falls below the MYR0.53 support – below the 21-day average line.

Source: RHB Securities Research - 16 Feb 2022

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