Revenue Group may rebound higher, says RHB Retail Research

TheEdge Tue, Aug 20, 2019 08:40am - 4 years View Original


KUALA LUMPUR (Aug 20): RHB Retail Research said Revenue Group Bhd may rebound higher after it continued holding above the RM1.41 support.

In a trading stocks note today, the research house said given that it has formed a long white candle above the rising 55-day SMA line, this means that the bullish sentiment has been enhanced.

“A positive bias may emerge above the RM1.50 level, with an exit set below the RM1.41 threshold.

“Towards the upside, the immediate resistance is at the RM1.63 level. This is followed by the RM1.71 level,” it said.

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