OKA Corp rises 3.18% on positive technical outlook

TheEdge Mon, Jan 20, 2020 11:11am - 4 years View Original


KUALA LUMPUR (Jan 20): Shares of OKA Corp Bhd rose 3.18% this morning, following a positive technical outlook on the stock.

At 10am, OKA Corp rose 2.5 sen to 81 sen, valuing it RM198.77 million.

In a trading stocks note today, RHB Retail Research said OKA Corp may rebound higher after it continued holding above the 76 sen support.

The research house said as the 21-day simple moving average (SMA) line is likely to turn higher, indicating that the bullish sentiment has been enhanced.

"A positive bias may emerge above the 76 sen level, with an exit set below the 76 sen threshold.

"Towards the upside, the immediate resistance is at 83 sen. This is followed by the 87.5 sen level," it said.

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