KUALA LUMPUR (March 17): RHB Retail Research said Malton Bhd has been developing a minor sideways trading pattern in recent sessions – to digest its previous sharp rebound off the 21-day SMA line.

In a trading stocks note today, the research house said a rebound extension should be confirmed if the stock breaks above the 52.5 sen resistance.

“The next resistance levels are set at 55 sen and 60 sen.

“A downside breach of 51 sen would cancel this hypothesis,” it said.