KUALA LUMPUR (Aug 7): RHB Retail Research said Kossan Rubber Industries Bhd may move higher after it continued holding above the RM3.93 support.

In a trading stocks note today, the research house said yesterday’s white candle has engulfed the prior one to form a “Bullish Engulfing” pattern, implying a potential rebound.

“A bullish bias may appear above the RM4.03 level, with an exit set below the RM3.93 threshold.

“Towards the upside, the near-term resistance is at RM4.33. This is followed by the RM4.60 level,” it said.