KUALA LUMPUR (Sept 25): RHB Retail Research said Kumpulan Powernet Bhd has been consolidating sideways, with the immediate resistance set at RM3.12.

In a trading stocks note today, the research house said with the 21-day SMA line heading north, we believe the uptrend will remain intact and it may flip above the resistance soon.

“If this happens, expect it to rebound towards RM3.21, followed by RM3.32.

“A downside breach of the RM3.00 support would nullify this expectation,” it said.