Pentamaster could rise further, says RHB Retail Research

Pentamaster could rise further, says RHB Retail Research
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KUALA LUMPUR (Sept 23): RHB Retail Research said Pentamaster Corporation Bhd could rise further after it moved past the immediate resistance of RM5.35 on high volume, thereby printing a “higher high” bullish pattern.

In a trading stocks note today, the research house said if the stock stays above that level, the buying momentum may propel it towards the RM5.94 recent high, before hitting the multi-month high of RM6.18.

“Meanwhile, the stock may move downwards if it falls below the RM5.18 support – below the 21-day SMA line,” it said.