Pentamaster rises 2.86% on positive technical outlook

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KUALA LUMPUR (July 23): Shares in Pentamaster Corp Bhd rose 2.86% this morning following a positive technical outlook on the stock.

At 9.13am, Pentamaster added 10 sen to RM3.60 for a market capitalistion of RM1.71 billion.

RHB Retail Research said Pentamaster Corp Bhd may rise higher after posting a long white candle and hitting its new 52-week high.

In a trading stocks note today, the research house said with the 21-day SMA line edging upwards, this also implies a positive outlook.

“A positive bias may emerge above the RM3.40 level, with an exit set below the RM3.26 threshold.

“Towards the upside, the immediate resistance is at the RM3.60 level. This is followed by the RM3.80 level,” it said.