Bermaz Auto may rebound further, says RHB Retail Research

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KUALA LUMPUR (Aug 16): RHB Retail Research said Bermaz Auto Bhd may rebound further after it tested the MYR2.39 support in recent sessions.

In a trading stocks note today, the research house said as the stock marked a higher close vis-à-vis the previous session, this indicates a positive sign.

“A positive bias may emerge above the RM2.39 level, with an exit set below the RM2.39 threshold.

“Towards the upside, the immediate resistance is at the RM2.52 level. This is followed by the RM2.60 level,” it said.