KUALA LUMPUR (April 9): RHB Retail Research said Asia Poly Holdings Bhd is showing signs of resuming its uptrend after breaking past the resistance with strong volume.

In a trading stocks note today, the research house said if the stock stays above the 21-day SMA line and resistance turn-support of 37 sen, the bullish momentum may lift the stock towards the next resistance level at 40 sen, followed by 42 sen.

“Meanwhile, breaching below the 34.5 sen support – beneath 21-day SMA line, will negate this expectation and shall see the stock price moving south for further correction,” it said.