RHB Investment Research Reports
Trading Stocks - Melewar Industrial
rhbinvest
Publish date: Wed, 06 Dec 2023, 07:15 PM
rhbinvest
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An official blog in I3investor to publish research reports provided by RHB Research team.
All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
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All materials published here are prepared by RHB Investment Bank Bhd. For latest offers on RHB Invest trading products and news, please refer to: http://www.rhbinvest.com
RHB Investment Bank Bhd
Level 3A, Tower One, RHB Centre
Jalan Tun Razak
Kuala Lumpur
Malaysia
Tel : +(60) 3 9280 8888
Fax : +(60) 3 9200 2216
Melewar Industrial may rebound further after rebounding above the 21-day SMA line while testing the MYR0.275 immediate resistance. If a breakout above that level happens, the bullish reversal pattern may drive the stock towards MYR0.295, followed by the next resistance of MYR0.31. On the other hand, falling below the MYR0.255 support would lead to a resumption of the bearish phase.
Source: RHB Securities Research - 6 Dec 2023
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