Mycron Steel set to resume upward movement, says RHB Retail Research

TheEdge Thu, Apr 28, 2022 07:12am - 3 months View Original


KUALA LUMPUR (April 28): RHB Retail Research said Mycron Steel Bhd is set to resume its upward movement, as it rebounded strongly from a recent pullback, surpassing the 68.5 sen resistance, ie Monday’s (April 25) high.

In a trading stocks note today, the research house said if the momentum persists, the stock is expected to hit the recent peak of 75 sen, followed by the 80 sen mark.

“However, the positive momentum may dissipate if it falls below the 62.5 sen support level as it could form a “lower low” bearish pattern,” it said.

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