Bermaz Auto may move higher, says RHB Retail Research

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KUALA LUMPUR (Oct 31): RHB Retail Research said Bermaz Auto Bhd may move higher after it continued holding above the  RM1.80 support.

In a trading stocks note today, the research house said as the stock has formed a “Bullish Engulfing” pattern on Oct 30, this indicates a potential rebound.

“A bullish bias may emerge above the RM1.80 level, with an exit set below the RM1.80 threshold.

“Towards the upside, the immediate resistance is at RM2.00. This is followed by the RM2.08 level,” it said.