KUALA LUMPUR (Aug 5): RHB Retail Research said Pecca Group’s buying momentum may have returned after it rose above the 21-day SMA line.

In a trading stocks note today, the research house said last Friday’s candle can be viewed as a continuation of bulls extending the rebound from Aug 1’s “Hammer” pattern.

“A positive bias may emerge above the RM1.16 level, with an exit set below the RM1.10 threshold.

“Towards the upside, the immediate resistance is at the RM1.24 level. This is followed by the RM1.30 level,” it said.