RHB Investment Research Reports
Trading Stocks - Glostrext
rhbinvest
Publish date: Mon, 13 May 2024, 11:22 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
Glostrext is set to resume its uptrend after consolidating since 3 Apr, with a breakout above MYR0.255 resistance on Friday backed by surging volume. The strong buying interest would see the stock rising to a new YTD high near the MYR0.30 threshold, possibly reaching the MYR0.35 mark. However, a breach below the MYR0.22 support reverses the momentum, as the counter trades below the SMA line and forms a "lower low" bearish structure.
Source: RHB Securities Research - 13 May 2024
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