KUALA LUMPUR (April 4): RHB Retail Research said Binasat Communications Bhd’s buying momentum may persist after it rose above the 21-day SMA line.

In a trading stocks note today, the research house said the upward momentum would likely continue, given that it has breached above the downtrend line drawn in the chart.

“A bullish bias may emerge above the 39.5 sen level, with an exit set below the 36 sen mark.

“Towards the upside, the immediate resistance is at 44 sen. This is followed by the 49 sen level,” it said.