KUALA LUMPUR (June 21): Shares in Pos Malaysia Bhd rose 1.33% in early trade this morning following a positive technical outlook on the stock.

At 9.13am, Pos Malaysia added 2 sen to RM1.52 with 977,700 shares traded.

PublicInvest Research said Pos Malaysia is recovering gradually from its consolidation phase.

In a trading ideas stock note today, the research house said improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term.

“Should resistance level of RM1.58 be broken, it may continue to lift price higher to subsequent resistance level of RM1.69.

“However, failure to hold on to support level of RM1.44 may indicate weakness in the share price and hence, a cut-loss signal,” it said.