Paos Holdings set to resume uptrend, says RHB Retail Research

Paos Holdings set to resume uptrend, says RHB Retail Research
-A +A

KUALA LUMPUR (Sept 9): RHB Retail Research said Paos Holdings Bhd is set to resume its uptrend as it bounced off from the recent pullback above the breakout level of 48.5 sen – solidifying its “higher low” bullish structure.

In a trading stocks note today, the research house said the bullish momentum may accelerate towards the next resistance of 56 sen, followed by 59 sen.

“In the event it falls below the 44 sen support – forming a “lower low” pattern below the 21-day SMA line, this expectation would be cancelled,” it said.