KUALA LUMPUR (June 24): RHB Retail Research said Magni-Tech Industries Bhd may rise higher after it formed a long white candle and breached above the RM5.00 threshold.
In a trading stocks note today, the research house said this can be viewed as a continuation of the bulls extending the buying momentum from June 11’s upside gap.
“A bullish bias may appear above the RM5.00 level, with an exit set below the RM4.75 threshold.
“Towards the upside, the nearterm resistance is at RM5.25. This is followed by the RM5.50 level,”it said.