KUALA LUMPUR (Oct 17): RHB Retail Research said FoundPac Group Bhd may move higher after it tested the 43 sen support in recent sessions.

In a trading stocks note today, the research house said as the stock has formed a long white candle above the rising 21-day SMA line, this points to a positive sign.

“A bullish bias may emerge above the 45.5 sen level, with an exit set below the 43 sen threshold.

“Towards the upside, the immediate resistance is at 52 sen. This is followed by the 55 sen level,” it said.