Binasat may rebound higher, says RHB Retail Research

Binasat may rebound higher, says RHB Retail Research
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KUALA LUMPUR (Feb 26): RHB Retail Research said Binasat Communications Bhd may rebound higher after it continued holding above the 45.5 sen support.

In a trading stocks note today, the research house said yesterday’s white candle has engulfed the prior one to form a “Bullish Engulfing” pattern, implying a potential rebound.

“A positive bias may emerge above the 48.5 sen level, with an exit set below the 45.5 sen  threshold.

“Towards the upside, the immediate resistance is at the 55.5 sen  mark, followed by the 60 sen level,” it said.