KUALA LUMPUR (Oct 1): RHB Retail Research said Malaysian Bulk Carriers Bhd is firming up the recent rebound after it managed to stay above the 71.5 sen resistance-turned-support level on strong volume on Thursday.
In a trading stocks note on Friday, the research house said a bullish momentum above that level is expected to follow through, which may propel the stock towards the recent high of 77 sen, before reaching 85.5 sen or its 52-week high.
“However, this expectation will be cancelled if it falls below the support of 68.5 sen,” it said.