Alam Maritim may rise higher, says RHB Retail Research

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KUALA LUMPUR (Aug 21): RHB Retail Research said Alam Maritim Resources Bhd may rise higher after forming a second consecutive long white candlestick.

In a trading stocks note today, the research house said 30-day SMA line is showing early signs of edging up, suggesting there is a possibility of a trend reversal.

“A bullish bias may emerge above the 15 sen level, with an exit set below the 12.5 sen threshold.

“Towards the upside, the immediate resistance is 19.5 sen, followed by 26 sen,” it said.