AwanBiru poised to resume uptrend, says RHB Retail Research

TheEdge Tue, Oct 11, 2022 07:35am - 1 year View Original


KUALA LUMPUR (Oct 11): RHB Retail Research said AwanBiru Technology Bhd is poised to resume its uptrend, as it rebounded from a recent pullback while trying to cross the 48 sen resistance level last Friday, supported by improved trading volume.

In a trading stocks note on Tuesday (Oct 11), the research house said that if a breakout happens above that level, the bulls may propel the stock to the resistance level of 52 sen or Aug 18’s high, followed by 55 sen, i.e. the high of May 13.

“However, the counter may reverse direction if it falls below the 42 sen support, negating the previous breakout level,” it said.

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