KUALA LUMPUR (July 3): RHB Retail Research said FoundPac Group Bhd may climb higher after it formed a second consecutive white candle yesterday.
In a trading stocks note today, the research house said with the 21-day SMA line edging upwards, this suggests a likelihood of increasing demand in the near term.
“A bullish bias may emerge above the 31.5 sen level, with an exit set below the 27.5 sen level.
“Towards the upside, the immediate resistance is at 36.5 sen. This is followed by the 41.5 sen level,” it said.