RHB Retail Research: Mega First Corp may rebound higher

Source: RHB, Bloomberg

RHB Retail Research says Mega First Corp may rebound higher after it continued holding above the MYR4.55 support.

In a trading note, the research house says as the 21-day SMA line is likely to turn higher, it would appear that the bullish sentiment has been enhanced.

“An upbeat bias may emerge above the MYR4.74 level, with an exit set below the MYR4.55 mark.

“Towards the upside, the immediate resistance is at the MYR5.22 level, followed by the MYR5.60 threshold,” it says.

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