KUALA LUMPUR (May 15): Shares in Pentamaster Corp Bhd rose 2.31% this morning following a positive technical outlook on the stock.
At 9.10am, Pentamaster rose 10 sen to RM4.42 for a market capitalisation of RM2.10 billion.
RHB Retail Research said Pentamaster may rebound further after it tested the RM3.90 support in its latest session.
In its trading stocks note today, the research house said given that the stock has formed a long white candle above the 21-day SMA line, this indicates a positive sign.
“An upbeat bias may emerge above the RM4.18 level, with an exit set below the RM3.90 mark.
“Towards the upside, the immediate resistance is at the RM4.75 level, followed by the RM5.07 threshold,” it said.