MY E.G. poised to firm up recent uptrend, says RHB Retail Research

TheEdge Tue, Oct 04, 2022 07:30am - 1 year View Original


KUALA LUMPUR (Oct 4): RHB Retail Research said MY E.G. Services Bhd is poised to firm up the recently formed uptrend reversal as buying interest re-emerged above the 21-day average line to retest the 86.5 sen resistance yesterday.

In a trading stocks note today, the research house said that if a breakout happens above that level, the stock may climb to reclaim the recent high of 89.5 sen, or Sept 13’s high, before propelling further towards the 94 swen level, which was the May 5’s high.

“If it falls below the 82 sen support, the stock may see a reversal in momentum as it forms a “lower low” bearish pattern, below the average line,” it said.

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