RHB Investment Research Reports
Trading Stocks - Muhibbah Engineering (M)
rhbinvest
Publish date: Wed, 28 Feb 2024, 09:58 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
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Kuala Lumpur
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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
Muhibbah Engineering (M) is expected to resume its uptrend after a bullish breakout. The counter recently broke past the MYR0.805 resistance on the back of strong volume, indicating that bullish momentum is in play. The momentum should lift the counter towards the next resistance level at MYR0.85, followed by MYR0.90. On the downside, support has been established at the MYR0.765 level. A fall below this level would open the doors for a correction.
Source: RHB Securities Research - 28 Feb 2024
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