Technical Stockpick -  Guan Chong Bhd
Mon, 06-Jan-2025 05:36 am
by Amir Hamdan • Apex Research

GCB (5102)
Last Price (RM)
4.000
Resistance (RM)
R1 — 4.220 / R2 — 4.390
Support (RM)
S1 — 3.830

After staging a pullback in July, price has price has consolidated over the next few months. Price has recently advanced and formed the uptrend formation since November. After forming bullish engulfing candle last Friday, traders may now anticipate a potential breakout above RM4.00, with the next resistance levels at RM4.22-RM4.39. On the downside, support is firmly pegged at RM3.83.

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.373243 4.414705
EUR 4.565507 4.577376
CNY 0.602867 0.604630
HKD 0.561419 0.566456
SGD 3.236779 3.265133