KUALA LUMPUR (June 7): Shares in Rohas Tecnic rose more than 9% on Tuesday (June 7) after JF Apex Securities said Rohas gained three sen to 31.5 sen last Friday to break the 200-day moving average.

At 11.43am, Rohas added 9.52% or three sen to 34.5 sen, the highest level since Nov 1, 2021. The stock saw three million shares traded.

In a technical stock pick note on Tuesday, JF Apex said last Friday’s gain broke the downtrend from 77 sen in November 2019.

“Technical indicators are encouraging as the RSI (reading at 74) is climbing towards the overbought zone while the MACD has crossed above its signal line in the positive region.

“For the downside, we advise traders to cut loss if the price falls below the support of 25 sen, marked by its 50-day moving average,” it said.