KUALA LUMPUR (Aug 13): Master-Pack Group Bhd shares rose 2.91% this morning following a positive technical outlook on the stock.
At 9.37am, Master-Pack added 3 sen to RM1.06 for a market capitalisation of RM57.89 million.
RHB Retail Research said Master-Pack may rise higher after forming a white candle and leaving an upside gap.
In a trading stocks note today, the research house said last Friday’s candle sent the stock to its 1-week high, thereby enhancing the bullish sentiment.
“A bullish bias may emerge above the 99.5 sen level, with an exit set below the 89 sen threshold.
“Towards the upside, the immediate resistance is at RM1.10 level. This is followed by the RM1.17 level,” it said.