Ni Hsin Resources may move higher, says RHB Retail Research

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KUALA LUMPUR (Feb 12):  RHB Retail Research said Ni Hsin Resources Bhd may move higher after it tested the 29 sen support recently.

In a trading stocks note today, the research house said given that it has formed a long white candle above the rising 21-day SMA line, this means that the bullish sentiment has been enhanced.

“A bullish bias may appear above the 32 sen level, with an exit set below the 29 sen threshold.

“Towards the upside, the near-term resistance is at 37 sen. This is followed by the 40 sen level,” it said.