KUALA LUMPUR (May 27): RHB Retail Research said MBM Resources Bhd may move higher after it continued holding above the RM2.78 support.

In a trading stocks note today, the research house said given that the stock has formed a “Bullish Harami” pattern on May 24, this indicates a potential rebound.

“A bullish bias may appear above the RM2.78 level, with an exit set below the RM2.78 threshold.

“Towards the upside, the near-term resistance is at RM3.00. This is followed by the RM3.08 level,” it said.