KUALA LUMPUR (Oct 27): RHB Retail Research said MTAG Group Bhd is poised to scale higher after it underwent a bullish breakout, and pushed past the resistance point of 48 sen.

In a trading stocks note on Thursday (Oct 27), the research house said that the stock went through a correction when it was trending below the 21-day simple moving average line.

“Crossing above the moving average line would indicate that a bullish bias has emerged.

“The bullish momentum should propel it towards 51 sen, followed by 54 sen.

“On the flip side, falling below the 45 sen support will negate the positive expectation and spark the start of a correction phase,” it said.