KUALA LUMPUR: Golden Pharos Bhd
rose to its highest in over a month in early trade Friday.
The wood products manufacturer rose 8%, or three sen to 40.5 sen, its highest since Sept 8. The counter has risen 58% so far this year.
PublicInvest Research said Golden Pharos is staging a potential breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term.
“Should the immediate resistance level of 40.5 sen be broken with renewed buying interest, it may continue to lift the price higher to subsequent resistance level of 42.5 sen,” it said.
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