KUALA LUMPUR (April 3): Shares in Coastal Contracts Bhd rose 3.45% this morning following a positive technical outlook on the stock.
At 9.20am, Coastal Contracts rose 4 sen to RM1.20 with 132,500 shares traded.
RHB Retail Research said Coastal Contracts may rebound higher after it continued holding above the RM1.00 support.
In a trading stocks note today, the research house said the stock posted a white candle and left an upside gap yesterday, which is a positive.
“A bullish bias may appear above the RM1.09 level, with an exit set below the RM1.00 threshold.
“Towards the upside, the near-term resistance is at RM1.23. This is followed by the RM1.37 level,” it said.