Tuesday 30 Apr 2024
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KUALA LUMPUR (Aug 22): Shares in Pecca Group Bhd rose 2.40% following a positive technical outlook on the stock.

At 9.33am, Pecca rose 3 sen to RM1.28, valuing the group at RM240.64 million.

RHB Retail Research said Pecca may climb higher after forming a long white candle and leaving an upside gap.

In a trading stocks note today, the research house said yesterday’s candle sent the stock to its new 52-week high, thereby enhancing the bullish sentiment.

“A bullish bias may emerge above the RM1.20 level, with an exit set below the RM1.10 threshold.

“Towards the upside, the immediate resistance is at RM1.30 level. This is followed by the RM1.40 level,” it said.

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