KUALA LUMPUR (Aug 17): RHB Retail Research said Berjaya Food Bhd has staged a bullish breakout, surging past the immediate resistance on high trading volumes.

In a trading stocks note on Wednesday (Aug 17), the research house said the positive price action suggests strong buying interest has emerged.

“If the stock continues to stay above the breakout point of RM4.30, we expect the momentum to propel the counter towards RM4.55, followed by RM4.75.

“On the downside, falling below the RM4 support will nullify our expectations,” it said.