Wah Seong may rebound further, says RHB Retail Research

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KUALA LUMPUR (Sept 12): RHB Retail Research said Wah Seong Corp Bhd may rebound further after it tested the RM1.00 support in recent sessions.

In a trading stocks note today, the research house said as the stock has formed a “Hammer” pattern on 7 Sep, this indicates a potential rebound.

“A bullish bias may appear above the RM1.00 level, with an exit set below the RM1.00 threshold.

“Towards the upside, the near-term resistance is at RM1.14. This is followed by the RM1.20 level,” it said.