ES Ceramics set for uptrend reversal, says RHB Retail Research

TheEdge Tue, Dec 19, 2023 08:12am - 3 months View Original


KUALA LUMPUR (Dec 19): RHB Retail Research said ES Ceramics Technology Bhd is set for an uptrend reversal after undergoing a breakout above the 22 sen level on Monday on surging trading volume, above the 21-day simple moving average line.

In a trading stocks note on Tuesday, the research house said that if the breakout is sustained, the stock is likely to advance towards the 25 sen mark, followed by the next resistance point of 26.5 sen.

“Conversely, a drop below the 19 sen support would invalidate the bullish setup,” it said.

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