RHB Investment Research Reports
Trading Stocks - Seng Fong
rhbinvest
Publish date: Wed, 02 Oct 2024, 10:06 AM
rhbinvest
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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
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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
Seng Fong is looking to extend its bullish trajectory after breaking past the resistance level on strong volume. The stock has closed above the MYR1.20 resistance with a long bullish candlestick, showing that the underlying momentum is positive. After the breakout, it should continue to travel towards MYR1.30, followed by the MYR1.45 level. On the downside, a fall below the MYR1.07 support level will negate the bullish setup.
Source: RHB Securities Research - 2 Oct 2024
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