RHB Investment Research Reports
Trading Stocks - Seng Fong
rhbinvest
Publish date: Wed, 02 Oct 2024, 10:06 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
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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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