KUALA LUMPUR (Aug 8): RHB Retail Research said Gabungan AQRS Bhd may rebound further after it tested the RM1.21 support recently.

In a trading stocks note today, the research house said given that the stock has formed a “Piercing Line” pattern on Aug 6, this indicates a potential rebound.

“A positive bias may emerge above the RM1.30 level, with an exit set below the RM1.21 threshold.

“Towards the upside, the immediate resistance is at the RM1.44 level. This is followed by the RM1.54 level,” it said.