KUALA LUMPUR (March 26): RHB Retail Research said Media Chinese International Ltd, which pulled back from the recent high, is in the process of forming a double bottom.

In a trading stocks note today, the research house said the low volume during the pullback for eight consecutive days indicates that selling pressure is subsiding.

“The bullish bias would be endured if it manages to stay above the  resistance-turn-support level of 18 sen.

“The next resistance levels are eyed at 21 sen, and its recent high of 21.5 sen. This expectation would be invalidated if the 18 sen support fails,” it said.