Guan Chong may move higher, says RHB Retail Research

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KUALA LUMPUR (July 18): RHB Retail Research said Guan Chong Bhd may move higher after it continued holding above the RM3.33 support.

In a trading stocks note today, the research house said as the stock recently rose above the 21-day SMA line, this indicates a positive sign.

“A positive bias may emerge above the RM3.60 level, with an exit set below the RM3.33 threshold.

“Towards the upside, the immediate resistance is at the RM3.90 level. This is followed by the RM4.24 level,” it said.