Dufu active, rises 4.59% following positive outlook on stock

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KUALA LUMPUR (July 10): Shares in Dufu Technology Bhd rose 4.59% in active trade this morning following a positive technical outlook on the stock.

At 9.07am, Dufu rose 8 sen to RM1.82 with 1.77 million shares traded for a market capitalisation of RM479.03 million.

RHB Retail Research said Dufu may rise higher after posting a long white candle and hitting its 2-month high.

In a trading stocks note today, the research house said as the 21-day SMA line is likely to turn higher, it would appear that the bullish sentiment has been enhanced.

“A bullish bias may emerge above the RM1.65 level, with an exit set below the RM1.57 threshold.

“Towards the upside, the immediate resistance is at RM1.85. This is followed by the RM1.98 level,” it said.