KUALA LUMPUR: Shares in SYF Resources Bhd
were lower in early trade Tuesday as investors take profit after recent gains.
The rubberwood furniture manufacturer declined 1.18%, or 0.5 sen to 42 sen with over four million shares traded. Year-to-date, the counter has risen about 6.4%.
“SYF is set for an uptrend reversal eyeing its recent high after it moved past the nearest resistance of 41.5 sen on strong volume – printing a long white candlestick,” RHB Retail Research said.
“If it manages to remain above that level, the positive momentum may continue to propel the stock towards 46 sen recent high, followed by the 50.5 sen, which was its 52-week high.
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