KUALA LUMPUR (Dec 1): RHB Retail Research said Milux Corporation is attempting to initiate an upward rebound, as it managed to sustain above the recent breakout level of RM1.45 following a recent pullback.

In a trading stocks note on Wednesday (Dec 1), the research house said if the stock manages to stay above that level, it may hit the immediate resistance of RM1.62, before possibly reaching the historical high of RM1.67.

“However, falling below the RM1.34 support – forming a “lower low” bearish structure – may see the stock descending further,” it said.