Coastal Contracts may trend higher, says RHB Retail Research

-A +A

KUALA LUMPUR (Oct 18): RHB Retail Research said Coastal Contracts Bhd may trend higher after it formed a long white candle and breached above the RM1.00 mark.

In a trading stocks note today, the research house said this upward momentum is likely to continue, given that it has formed a second consecutive white candle.

“A positive bias may emerge above the RM1.00 level, with an exit set below the 90 sen threshold.

“Towards the upside, the immediate resistance is at the RM1.13 mark. This is followed by the RM1.22 threshold,” it said.