Aemulus set to propel northwards, says RHB Retail Research

TheEdge Thu, Dec 15, 2022 08:11am - 1 year View Original


KUALA LUMPUR (Dec 15): RHB Retail Research said Aemulus Holdings Bhd is set to propel northwards as it staged a breakout above the recent high of 48.5 sen on Wednesday on surging trading volume, forming a “higher high” bullish structure.

In a trading stocks note on Thursday (Dec 15), the research house said that the stock has rebounded strongly from its bottom since Nov 23.

“The bullish bias above that level is likely to drive the stock higher towards the 53.5 sen resistance, followed by the 60 sen mark.

“Conversely, the stock may reverse direction if it falls below the 45 sen support, forming a 'lower low' bearish structure,” it said.

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