SDS set to propel towards historical high, says RHB Retail Research

TheEdge Wed, Oct 05, 2022 07:18am - 1 year View Original


KUALA LUMPUR (Oct 5): RHB Retail Research said SDS Group Bhd is set to propel towards the historical high as it bounced off the 21-day average line, surpassing the 57.5 sen immediate resistance.

In a trading stocks note today, the research house said that coupled with improved trading volume and forming a “higher low” bullish structure, the buying interest above that level may persist to propel the stock towards the 64 sen – the recent and historical high – before possibly printing a new high level at the 70 sen mark.

“However, the counter may reverse direction if it falls below the 54 sen support, moving downwards below the average line,” it said.

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