Naim attempting to break out from sideways consolidation, says RHB Retail Research

Naim attempting to break out from sideways consolidation, says RHB Retail Research
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KUALA LUMPUR (Feb 26): RHB Retail Research said Naim Holdings Bhd is attempting to break out from the sideways consolidation zone.

In its trading stocks note today, the research house said the stock is now nearing an important resistance level at 80 sen.

“If a breakout happens, we believe the bullish momentum may propel the stock towards the next resistance level at 84 sen, followed by 88 sen.

“Meanwhile, a downward breach of the 75.5 sen support will nullify this expectation,” it said.