KUALA LUMPUR (March 6): Shares in Kossan Rubber Industries Bhd rose 1.22% at mid-morning today, following a positive technical outlook on the stock.

At 10.17am, Kossan rose 6 sen to RM5, valuing it at RM6.39 billion.

RHB Retail Research said Kossan may rise higher after it breached above the RM4.90 threshold.

In a trading stocks note today, the research house said this upward momentum is likely to continue, given that it has posted a second consecutive white candle.

“A positive bias may emerge above the RM4.90 level, with an exit set below the RM4.75 mark.

“Towards the upside, immediate resistance is at the RM5.18 level, followed by the RM5.30 threshold,” it said.