Pantech rose higher to test immediate resistance level, says RHB Retail Research

Pantech rose higher to test immediate resistance level, says RHB Retail Research
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KUALA LUMPUR (Feb 9): RHB Retail Research said Pantech Group Holdings Bhd rose higher yesterday to test the immediate resistance level at 47 sen.

In a trading stocks note today, the research house said if the breakout is successful, the stock will print a new higher high, signalling the resumption of an uptrend.

“We think the positive momentum will drive it towards the next resistance level pegged at 49 sen followed by 52 sen.

“A downside breach of the 43 sen support would nullify this expectation and see further share price correction,” it said.