EG Industries may rebound further, says RHB Retail Research

TheEdge Thu, Oct 25, 2018 08:25am - 5 years View Original


KUALA LUMPUR (Oct 25): RHB Retail Research said EG Industries Bhd may rebound further after it tested the 47.5 sen support in recent sessions.

In a trading stocks note today, the research house said yesterday’s candle sent the stock to its 2-week high, thereby enhancing the bullish sentiment.

“A bullish bias may appear above the 49 sen level, with an exit set below the 47.5 sen threshold.

“Towards the upside, the near-term resistance is at 52.5 sen. This is followed by the 55 sen level,” it said.

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