Ancom Logistics eyeing to resume uptrend, says RHB Retail Research

Ancom Logistics eyeing to resume uptrend, says RHB Retail Research
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KUALA LUMPUR (Jan 26): RHB Retail Research said Ancom Logistics Bhd is eyeing to resume its uptrend amid the recent consolidation process as it attempted to move past the 28.5 sen immediate resistance recently on strong volume.

In a trading stocks note on Wednesday (Jan 26), the research house said if the stock manages to surpass above that level, the bulls could drive the stock towards the next resistance of 33.5 sen, followed by 40 sen.

“However, the momentum may lose steam if it falls below the 23 sen support — below the 21-day average line,” it said.