KUALA LUMPUR (March 25): RHB Retail Research said Dancomech Holdings Bhd may move higher after it tested the 58.5 sen support in its latest session.

In a trading stocks note today, the research house said given that it has formed a long white candle above the rising 21-day SMA line, this means that the bullish sentiment has been enhanced.

“A bullish bias may appear above the 61.5 sen level, with an exit set below the 58.5 sen threshold.

“Towards the upside, the near-term resistance is at 67.5 sen. This is followed by the 70 sen level,” it said.