AE Multi jumps 17.7% on positive technical outlook

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KUALA LUMPUR (Sept 4): Shares in AE Multi Holdings Bhd jumped 17.65% in the mid-morning today, following a positive technical outlook for the stock.

At 10.45am, AE Multi was three sen higher at 20 sen, valuing it at RM85.63 million.

RHB Retail Research said AE Multi may have completed its sideways consolidation in the latest session as it had staged a positive intraday price reversal from the 15 sen support.

In a trading stocks note today, the research house said a positive bias may emerge above 16 sen with resistance points pegged at 18 sen and 20 sen.

“A stop-loss can be placed below 16 sen,” it said.

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AE Multi may have completed its sideways consolidation, says RHB Retail Research