Grand-Flo attempting to break out from immediate resistance level, says RHB Retail Research

Grand-Flo attempting to break out from immediate resistance level, says RHB Retail Research
-A +A

KUALA LUMPUR (Feb 8): RHB Retail Research said Grand-Flo Bhd is attempting to break out from the immediate resistance level of 34 sen.

In a trading stocks note today, the research house said as the trading volume has been increasing lately, this indicates that the bullish momentum is picking up pace.

“If the breakout is successful, we expect the stock to reach the next resistance level of 36 sen, followed by 39 sen.

“A downside breach of the 31 sen support level would nullify this expectation and lead to a further share price correction,” it said.