KUALA LUMPUR (Sept 6): RHB Retail Research said Public Packages Holdings Bhd is set to print a new 52-week high after breaching the 61.5 sen immediate resistance on improved trading volume on Monday, forming a “higher high” bullish pattern above the 21-day average line.

In a trading stocks note on Tuesday (Sept 6), the research house said if the breakout is sustained, the uptrend may take the stock to the next resistance level of 70.5 sen, which is also May 10, 2021’s high, followed by 73 sen (the high of May 5, 2021).

“However, the stock may reverse direction if it falls below the 57 sen support, as it may form a 'lower low' bearish pattern,” it said.