KUALA LUMPUR (Oct 4): RHB Retail Research said Ajiya Bhd is set to resume the uptrend as it rebounded to reclaim above the RM1.14 previous breakout and 21-day average line on Monday (Oct 3) on improved trading volume.

In a trading stocks note on Tuesday, the research house said that as such, buying interest above that level may persist to propel the stock towards the RM1.22 recent high, or Sept 8’s high, before climbing further towards the RM1.26 resistance of March 18’s high.

“However, the counter may reverse direction if it falls below the RM1.10 support, moving downwards below the average line,” it said.