KUALA LUMPUR (Aug 5): RHB Retail Research said Southern Cable Group Bhd is eyeing to resume an uptrend movement as it attempted to surpass the consolidation phase of 38 sen on Thursday (Aug 4), supported by significant trading volume.

In a trading stocks note on Friday, the research house said if the stock manages to surpass above that level, it is expected to propel towards 40 sen, or April 7’s high, and then the next resistance level of 42.5 sen — Dec 14, 2021’s high.

“If it falls below the 35.5 sen support, the recent uptrend movement may reverse as it forms a 'lower low' bearish pattern,” it said.