KUALA LUMPUR (March 6): RHB Retail Research said FoundPac Group Bhd may rise higher after it breached above the 31.5 sen threshold.

In a trading stocks note today, the research house said with the 21-day SMA line edging upwards, this suggests that demand is likely to increase in the coming sessions.

“A bullish bias may emerge above the 31.5 sen level, with an exit set below the 29.5 sen threshold.

“Towards the upside, the immediate resistance is at 36 sen. This is followed by the 40 sen level,” it said.