Aemulus poised for uptrend, says RHB Retail Research

TheEdge Fri, Aug 05, 2022 07:18am - 4 months View Original

KUALA LUMPUR (Aug 5): RHB Retail Research said Aemulus Holdings Bhd is poised for an uptrend as it bounced off the 21-day average line and attempted to move past the 61.5 sen immediate resistance on Thursday (Aug 4) — coupled with strong trading volume.

In a trading stocks note on Friday, the research house said that if a breakout above that level happens, the bulls are expected to propel the stock towards 64.5 sen, or June 28’s high, followed by the 70 sen mark.

“However, the stock may reverse if it falls below the 57 sen support — as it may form a 'lower low' bearish pattern below the average line,” it said.

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