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Malayan Flour Mills set to resume uptrend reversal, says RHB Retail Research

2021-09-13T23:25:01+08:00September 13th, 2021|0 Comments
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KUALA LUMPUR (Sept 14): RHB Retail Research said Malayan Flour Mills Bhd is set to resume its uptrend reversal, as it bounced off from the recent pullback on surging trading volume – it broke away from the immediate resistance of 82.5 sen, with a bullish candlestick of “White Marubozu”.

In a trading stocks note today, the research house said that coupled with a “higher low” bullish structure, the bullish momentum above that level may propel the stock towards the next resistance of 91 sen, followed by the RM1.00 psychological level.

“However, this expectation will be cancelled if it falls below the 79 sen support level,” it said.

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