KUALA LUMPUR (Dec 16): Shares in Mi Technovation Bhd rose 1.56% at the midday break today, following a positive technical outlook on the stock.

At 12.30pm, Mi Technovation gained 3 sen to RM1.95, valuing it at RM1.46 billion.

RHB Retail Research said Mi Technovation may rise higher after posting another white candle and hitting its new 52-week high.

In a trading stocks note today, the research house said as the 21-day simple moving average (SMA) line is likely to turn higher, it would appear that the bullish sentiment has been enhanced.

"A positive bias may emerge above the RM1.86 level, with an exit set below the RM1.80 threshold.

"Towards the upside, the immediate resistance is at RM2.05. This is followed by the RM2.20 level," it said.