KUALA LUMPUR (July 1): RHB Retail Research said Censof Holdings Bhd is set to resume its bullish momentum after it bounced off the support and breached the 30 sen resistance on Thursday with surging trading volume, indicating that strong buying interest has emerged.

In a trading stocks note on Friday (July 1), the research house said that assuming the buying interest sustains, the stock may propel further towards the 32.5 sen resistance, or June 8’s high, followed by the 34 sen next resistance, which was Feb 11’s high.

“However, the stock may reverse direction if it falls below the 28 sen support, forming a 'lower low' bearish pattern, below the 21-day average line,” it said.