Censof in process of completing double bottom, says RHB Retail Research

Censof in process of completing double bottom, says RHB Retail Research
-A +A

KUALA LUMPUR (April 2): RHB Retail Research said Censof Holdings Bhd is in the process of completing its double bottom — the W-shaped base — after bouncing off its support level yesterday on strong volume.

In a trading stocks note today, the research house said a bullish bias would be established if the stock manages to break above the 33.5 sen resistance level, to move out of its minor consolidation phase.

“The next resistance levels are marked at 38.5 sen and 40 sen.

“A downside breach of 30.5 sen would negate this trading bias,” it said.