DKSH stages technical rebound, rises 3.70%

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KUALA LUMPUR (Dec 8): DKSH Holdings (M) Bhd staged a technical rebound and rose 3.70% in early trade this morning.

At 9.01am, DKSH was up 15 sen to RM4.20 with 2,000 shares done.

AmInvestment Bank Retail Research said DKSH may experience a technical rebound after falling into oversold territory recently.

In a stocks on radar note today, the research house said with a recovering RSI level, the stock may rebound further preferably above the RM4.15 point, with a target price of RM4.46.

“Meanwhile, it may drift sideways if it cannot surpass theRM4.15 point firmly in the near term.

“In this case, support is anticipated at RM3.96, whereby traders may exit on a breach to avoid the risk of a possible downtrend continuation,” it said.