KUALA LUMPUR (May 23): RHB Retail Research said Poh Kong Holdings Bhd is set to initiate a positive rebound after it jumped above the consolidation phase of 81 sen last Friday — forming a “higher high” bullish pattern below the 21-day average line.

In a trading stocks note on Monday (May 23), the research house said that in in the immediate term, the stock is expected to climb towards the 84.5 sen resistance.

“This is then followed by the next resistance of 87 sen.

“Meanwhile, a drop below the 79 sen support may reverse the momentum as it forms a 'lower low' bearish structure below the average line,” it said.