RHB Retail Research: Salutica indicating a rebound is likely

RHB Retail Research says Salutica Berhad formed a white candle to cross above both the 21- day SMA and the 3-month downtrend lines – indicating that a rebound is likely to take place.

In a trading note, the research house says a positive bias may emerge above MYR0.49, with resistance levels pegged at MYR0.535 and MYR0.565.

A stop-loss below MYR0.49 is recommended.

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