FoundPac Group may trend higher, says RHB Retail Research

TheEdge Wed, Dec 11, 2019 08:03am - 4 years View Original


KUALA LUMPUR (Dec 11): RHB Retail Research said FoundPac Group Bhd may trend higher after it formed a long white candle and breached above the 65 sen mark.

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

“A positive bias may emerge above the 66 sen level, with an exit set below the 62 sen threshold.

“Towards the upside, the immediate resistance is at the 75 sen level, followed by the 80 sen threshold,” it said.

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