KUALA LUMPUR (Oct 8): Nova Wellness Group Bhd shares rose 2.46% following a positive technical outlook on the stock.
At 9.23am, Nova Wellness added 1.5 sen to 62.5 sen for a market capitalisation of RM198.59 million.
RHB Retail Research said Nova Wellness may climb higher after it breached above the 60 sen mark.
In a trading stocks note today, the research house said yesterday’s candle has sent the stock to its new 52-week high, thereby enhancing the bullish sentiment.
“A positive bias may emerge above the 60 sen level, with an exit set below the 56.5 sen threshold.
“Towards the upside, the immediate resistance is at the 65 sen level. This is followed by the 70 sen mark,” it said.