Sin-Kung attempting to stage a bullish breakout, says RHB Retail Research
03 Jul 2024, 08:05 am
KUALA LUMPUR (July 3): RHB Retail Research said Sin-Kung Logistics Bhd (KL:SINKUNG) is attempting to stage a bullish breakout, testing the immediate resistance.
In a trading stocks note today, the research house said that the counter has been consolidating sideways beneath the 17 sen resistance.
“It has charted a series of “higher lows”, showing bullish momentum is building up.
“In the event a breakout happens, the momentum would propel the counter towards 19 sen, followed by 21 sen.
“However, breaching below the 15 sen support would open the door for downwards movement,” it said.
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