Ancom Logistics
Ancom Logistics, as cited by RHB Retail Research’s technical analysis report (Dec 16), is poised to propel northwards as it bounced off the 21-day average line on higher volume yesterday, hitting the MYR0.14 immediate resistance level. If it manages to surpass above that level – forming a “higher high” bullish pattern – the bullish bias above that level will likely drive the stock higher towards the MYR0.165 resistance, followed by the MYR0.20 mark. Conversely, the stock may reverse direction if it falls below the MYR0.12 support, forming a “lower low” bearish structure.
