KUALA LUMPUR (Jan 3): RHB Retail Research said Gadang Holdings Bhd may trend higher after recently surpassing the RM1.05 level, albeit marginally.

In a trading stocks note today, the research house said a bullish bias may be present above this point with a target price of RM1.21.

It said the stock may turn sideways if it cannot sustain above the RM1.05 mark in the near term.

“In this scenario, support may be found at 99.5 sen, where traders can exit upon a breach to avoid the risk of a further correction.

“Alternatively, a stronger support level expected at 89.5 sen can be used as reference,” it said.