RHB Retail Research: MNRB ready to extend upward move

RHB Retail Research says MNRB Holdings Berhad formed a white candle after testing the 50-day SMA line in the prior two sessions – this indicates a good possibility that it is now ready to extend its upward move.

In a trading note, the research house says a positive bias may emerge above MYR0.80 with resistance levels pegged at MYR0.855 followed by MYR0.90.

A stop-loss below MYR0.80 is recommended.

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