Mi Equipment may trend higher, says RHB Retail Research

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KUALA LUMPUR (Sept 5): RHB Retail Research said Mi Equipment Holdings Bhd may trend higher after it formed a white candle and breached above the RM2.50 threshold.

In a trading stocks note today, the research house said this close has sent the stock to its new 52-week high, thereby enhancing the positive sentiment.

“A bullish bias may emerge above the RM2.48 level, with an exit set below the RM2.28 threshold.

“Towards the upside, the immediate resistance is at RM2.70. This is followed by the RM3.00 level,” it said.