KUALA LUMPUR (Nov 17): RHB Retail Research said PT Resources Holdings Bhd is looking to stage a bullish breakout to extend the upside movement and test the 43 sen immediate resistance.

In a trading stocks note on Thursday (Nov 17), the research house said that the stock has been moving sideways for consolidation in the past two sessions.

“If breakout happens, we expect strong positive price action to follow through.

“The stock may climb towards the next resistance pegged at 47 sen and followed by 50 sen.

“On the downside, a breach of the 39.5 sen support would negate the positive expectation,” it said.