Ranhill Utilities underwent a technical breakout, surpassing the previous resistance of MYR0.655. Supported by significant trading volume, the stock is set to climb towards the MYR0.73 resistance, followed by MYR0.80. A breach below the MYR0.605 support – forming a “lower low” bearish pattern below the 21-day SMA line – would dent sentiment and spark a downtrend.
Source: RHB Securities Research - 30 Aug 2023
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Created by rhbinvest | Oct 02, 2024