Poh Kong set to jump strongly, says RHB Retail Research

Poh Kong set to jump strongly, says RHB Retail Research
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KUALA LUMPUR (Nov 25): RHB Retail Research said Poh Kong Holdings Bhd is set to jump strongly above the previous consolidation phase after it bounced off the 21-day average line recent while breaching above the 75 sen previous resistance level – firming up its “higher low” bullish pattern above the average line.

In a trading stocks note today, the research house said that as Poh Kong has now breached the breakout level, the stock is likely to propel further towards the 80 sen immediate resistance, followed by the 83 sen next resistance, which was June 10’s high.

“The momentum may reverse if it drops below 72.5 sen – forming a “lower low” bearish pattern, below the average line,” it said.