KESM Industries may rise higher, RHB Retail Research

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KUALA LUMPUR (July 8): RHB Retail Research said KESM Industries Bhd may rise higher after posting a long white candle and hitting its 2-month high.

In a trading stocks note today, the research house said as the stock recently climbed above the 21-day SMA line, this indicates a positive sign.

“A bullish bias may emerge above the RM7.50 level, with an exit set below the RM7.00 threshold.

“Towards the upside, the immediate resistance is at RM8.22. This is followed by the RM8.78 level,” it said.