ACME eyeing to resume uptrend movement, says RHB Retail Research

ACME eyeing to resume uptrend movement, says RHB Retail Research
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KUALA LUMPUR (May 13): RHB Retail Research said ACME Holdings Bhd is eyeing to resume its uptrend movement as it attempted to break past the recent sideways consolidation phase of 27 sen on strong volume.

In a trading stocks note on Friday (May 13), the research house said if the stock manages to surpass that level, an uptrend momentum could be established to inch the stock higher towards the recent high of 28.5 sen, then the 30 sen threshold.

“Conversely, the current sideways movement may turn downwards if it falls below the 25 sen support, below the 21-day average line,” it said.