FoundPac Group may trend higher, says RHB Retail Research

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KUALA LUMPUR (May 18): RHB Retail Research said FoundPac Group Bhd may trend higher after it tested the 70.5 sen support in its latest session.

In a trading stocks note today, the research house said with the 21-day SMA line edging upwards, this implies a positive outlook.

“An upbeat bias may emerge above the 70.5 sen level, with an exit set below the 70.5 sen mark.

“Towards the upside, the immediate resistance is at the 81 sen level, followed by the 89 sen threshold,” it said.