OCK is attempting to stage a bullish breakout by testing the immediate resistance with strong volume. The stock has been moving sideways on consolidation. If it manages to break past the MYR0.415 resistance, bullish bias will emerge. The momentum would propel the stock towards the next resistance pegged at MYR0.43, followed by MYR0.45. On the other hand, falling below the MYR0.39 support will negate the bullish expectation.
Source: RHB Securities Research - 31 Jul 2023
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Created by rhbinvest | Sep 27, 2024