KUALA LUMPUR (July 11): RHB Retail Research said Hai-O Enterprise Bhd’s buying momentum may continue after the stock continued holding above the rising 21-day SMA line lately.

In a trading stocks note today, the research house said yesterday’s close has sent the stock to its new 52-week high, thereby enhancing the bullish sentiment.

“A bullish bias may emerge above the RM4.15 level, with an exit set below the RM4.00 threshold.

“To the upside, the immediate resistance level is seen at the RM4.50 level. This is followed by the RM5.00 level,” it said.