KUALA LUMPUR (Oct 8): Shares in Greatech Technology Bhd rose 2.47% this morning following a positive technical outlook on the stock.

At 9.19am, Greatech added 4 sen to RM1.66 with 1.67 million shares traded.

RHB Retail Research said Greatech Technology Bhd may rise higher after posting a white candle and hitting its new 52-week high.

In a trading stocks note today, the research house said as the 21-day SMA line is likely to turn higher, it would appear that the bullish sentiment has been enhanced.

“A bullish bias may emerge above the RM1.55 level, with an exit set below the RM1.46 threshold.

“Towards the upside, the immediate resistance is at RM1.70. This is followed by the RM1.80 level,” it said.