Guan Chong may rebound higher, says RHB Retail Research

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KUALA LUMPUR (Aug 13): RHB Retail Research said Guan Chong Bhd may rebound higher after it continued holding above the RM3.32 support.

In a trading stocks note today, the research house said the stock formed another white candle and leaving an upside gap, this indicates a positive sign.

“A bullish bias may appear above the RM3.53 level, with an exit set below the RM3.32 threshold.

“Towards the upside, the near-term resistance is at RM3.80. This is followed by the RM4.00 level,” it said.