KUALA LUMPUR (July 16): RHB Retail Research said Southern Steel Bhd may move higher after it continued holding above the 90 sen support.

In a trading stocks note today, the research house said given that it has formed a long white candle above the 21-day SMA line, this has enhanced the buying momentum.

“A bullish bias may emerge above the 97.5 sen level, with an exit set below the 90 sen threshold.

“Towards the upside, the immediate resistance is at RM1.10. This is followed by the RM1.20 level,” it said.