Powerwell attempting to move above resistance level, says RHB Retail Research
KUALA LUMPUR (Oct 14): RHB Retail Research said Powerwell Holdings Bhd is attempting to move above the resistance level of 30 sen.
In a trading stocks note today, the research house said the increase in trading volume over recent sessions indicate that buying interest is on the rise.
“If it trades above 30 sen, expect the bullish momentum to reach the next resistance of 32 sen, followed by 35 sen.
“A downside breach of the 27 sen support level would nullify this expectation,” it said.
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