KUALA LUMPUR (Jan 23): Shares in KESM Industries Bhd rose 2.48% this morning following a positive technical outlook.

At 9.07am, KESM rose 28 sen to RM11.58, valuing it at RM498.11 million.

RHB Retail Research said KESM Industries Bhd may climb higher after it recovered above the RM11 mark.

In a trading stocks note today, the research house said yesterday’s candle sent the stock to its new 52-week high, thereby enhancing the bullish sentiment.

“A positive bias may emerge above the RM11 level, with an exit set below the RM10.30 threshold.

“Towards the upside, the immediate resistance is at RM13. This is followed by the RM14 level,” it said.