Nextgreen Global set for an uptrend reversal, says RHB Retail Research

TheEdge Fri, Jan 14, 2022 07:56am - 4 months View Original


KUALA LUMPUR (Jan 14): RHB Retail Research said Nextgreen Global is set for an uptrend reversal, as it bounced off its support while breaching the immediate resistance of RM1.03 yesterday – reclaiming the space above the 21-day average line.

In a trading stocks note today, the research housed said if the stock manages stay above that level, the bulls could drive the stock towards the next resistance of R1.12 (a recent high), followed by RM1.22.

“However, the momentum may dissipate if it falls below the 98 sen support, ie forming a “lower low” bearish pattern,” it said.

 

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