KUALA LUMPUR (Oct 26): RHB Retail Research said KUB Malaysia Bhd is eyeing its multi-year high as it bounced off from the recent pullback to breach the 75.5 sen recent high – printing a “higher high” bullish pattern with a “White Marubozu” candlestick.
In a trading stocks note on Tuesday (Oct 26), the research house said the bullish momentum above that level may propel the stock towards its multi-year high of 83 sen, and then the 96 sen threshold.
“That said, this expectation will be nullified if it falls below the support level of 70.5 sen – yesterday’s (Monday) low,” it said.