Boilermech attempted to extend upward move, says RHB Retail Research

Boilermech attempted to extend upward move, says RHB Retail Research
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KUALA LUMPUR (Dec 1): RHB Retail Research said Boilermech Holdings Bhd attempted to extend the upward move, testing the resistance level of 90.5 sen.

In a trading stocks note today, the research house said as trading volume has picked up over recent sessions, the bullish momentum will be extended, and the stock will break out from the resistance soon.

“If this happens, the next resistance level is set at 94 sen, followed by 98 sen.

“Meanwhile, a downward breach of the 83 sen support will negate this expectation,” it said.