KUALA LUMPUR (Dec 16): RHB Retail Research said Thong Guan Industries Bhd may rebound further after it tested the RM3.41 support level lately.

In a trading stocks note today, the research house said given that the stock has formed a positive candle for the third consecutive session, the positive sentiment has been enhanced.

“A positive bias may emerge above the RM3.54 level, with an exit set below the RM3.41 threshold.

“Towards the upside, the immediate resistance is at the RM3.88 level, followed by the RM4.00 threshold,” it said.