KUALA LUMPUR (Dec 19): RHB Retail Research said Innoprise Plantations Bhd is set to propel northwards as it bounced off the 21-day average line surpassing the RM1.50 resistance last Friday on surging trading volume.

In a trading stocks note on Monday (Dec 19), the research house said that the bullish bias above that level is likely to drive the stock higher towards the RM1.60 mark, followed by RM1.70.

“Conversely, the stock may reverse direction if it falls below the RM1.45 support, forming a 'lower low' bearish structure,” it said.