KUALA LUMPUR: CIMB Retail Research has a Sell on Dayang Enterprise Bhd at RM1.93.
'On the daily chart, we see the potential formation of a head and shoulder pattern. If the neckline support is breached, expect selling pressure to be fierce. The 200-day SMA is also a magnet for prices,' it said.
CIMB Research said at present, the candles are just sitting on the neckline support. Once this level gives way, next supports are RM1.78 and RM1.63.
'Technical landscape looks bleak. MACD histogram bars are falling at a faster pace while RSI is also dwindling. Put a buy stop at RM2.21, just in case,' it said.
'On the daily chart, we see the potential formation of a head and shoulder pattern. If the neckline support is breached, expect selling pressure to be fierce. The 200-day SMA is also a magnet for prices,' it said.
CIMB Research said at present, the candles are just sitting on the neckline support. Once this level gives way, next supports are RM1.78 and RM1.63.
'Technical landscape looks bleak. MACD histogram bars are falling at a faster pace while RSI is also dwindling. Put a buy stop at RM2.21, just in case,' it said.
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