KUALA LUMPUR (March 4): RHB Retail Research said NWP Holdings Bhd is in the process of consolidating sideways above the 21-day average line.

In a trading stocks note today, the research house said if the stock manages to bounce off the consolidation level of 25 sen, a follow-through of this bullish momentum should propel the stock towards the 27 sen resistance, followed by 29 sen.

“Conversely, falling below the 22.5 sen support should trigger selling pressure below the 21-day average line,” it said.