KUALA LUMPUR (Oct 17): Shares in Pantech Group Holdings Bhd rose 2.86% at mid-morning following a positive technical outlook on the stock.

At 10.07, Pantech added 1.5 sen to 54 sen for a market capitsalisation of RM405.36 million.

RHB Retail Research said Pantech may rebound higher after it continued holding above the 48 sen support.

In a trading stocks note today, the research house said as the stock recently rose above the 21-day SMA line, the positive sentiment has been enhanced.

“A positive bias may emerge above the 50.5 sen level, with an exit set below the 48 sen threshold.

“Towards the upside, the immediate resistance is at the 55.5 sen mark. This is followed by the 58 sen threshold,” it said