RHB Investment Research Reports
Trading Stocks - Samchem Holdings
rhbinvest
Publish date: Tue, 12 Dec 2023, 09:53 AM
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
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
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
Samchem Holdings is set for an uptrend rebound, as it bounced off the 21-day SMA line, surpassing the MYR0.56 level yesterday, on surging trading volume. Coupled with a “Bullish Marubozu” candlestick formation, the stock is set to heading towards MYR0.59 – the highest level since 8 Mar – followed by the next resistance at MYR0.63. On the other hand, falling below the MYR0.54 support will negate the bullish setup.
Source: RHB Securities Research - 12 Dec 2023
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