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Mestron poised to resume uptrend, says RHB Retail Research

The Edge Markets LogoThe Edge Markets1 mo ago

Mestron poised to resume uptrend, says RHB Retail Research

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KUALA LUMPUR (June 23): RHB Retail Research said Mestron Holdings Bhd is poised to resume its uptrend after it re-attempted to hit the immediate resistance of 34.5 sen on Wednesday, coupled with high trading volume.

In a trading stocks note on Thursday (June 23), the research house said if the stock pushes above that level, forming a “higher high” bullish pattern, the stock may travel towards the resistance of 36.5 sen, followed by 38.5 sen, which was the historical high printed on May 10, 2021.“However, the stock may reverse direction if it falls below the 33 sen support, forming a 'lower low' bearish pattern below the 21-day average line,” it said.


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Category: InvestingFinance

Topics: (june Forming Resistance Reverse Direction Falls Stock Trading Pattern Research Support

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-22, 23:26:21

News Timezone: GMT +8:00

News Source URL: theedgemarkets.com

Language: English

Reading Time: 1 minutes read

Article Length: 129 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 4627

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