KUALA LUMPUR (July 9): Hai-O Enterprise Bhd shares rose 3.36% in the morning session today following a positive technical outlook of the stock.

At 12.04pm, the stock rose 8 sen to RM2.46 for a market capitalisation of RM738.73 million.

RHB Retail Research said Hai-O Enterprise Bhd may rebound further after it tested the RM2.18 support in the recent session.

In a trading stocks note today, the research house said given that it has formed a white candle for the second consecutive day, the positive sentiment has been enhanced.

"A bullish bias may appear above the RM2.30 level, with an exit set below the RM2.18 threshold.

"Towards the upside, the near-term resistance is at RM2.47. This is followed by the RM2.58 level," it said.