KUALA LUMPUR (Aug 13): RHB Retail Research said FoundPac Group Bhd may trend higher after it formed a long white candle and breached above the 40 sen threshold.
In a trading stocks note today, the research house said with the 21-day SMA line edging upwards, this also implies a positive outlook sentiment.
“A bullish bias may emerge above the 39 sen level, with an exit set below the 35.5 sen threshold.
“Towards the upside, the immediate resistance is at 44.5 sen. This is followed by the 47 sen level,” it said.