Southern Cable jumped with a higher trading volume, says RHB Retail Research

TheEdge Tue, Dec 29, 2020 07:55am - 4 months ago


KUALA LUMPUR (Dec 29): RHB Retail Research said Southern Cable Group Bhd’s share price has jumped with a higher trading volume, breaking out from the immediate resistance marked at 43 sen.

In a trading stocks note today, the research house said with the latest positive price action, the stock is running at full steam, and is poised to trade higher to test the next hurdle at 46 sen, followed by 50 sen.

“A downside breach of the 39 sen support will negate this expectation and should see a share price correction,” it said.

 






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