Powerwell may rise higher, says RHB Retail Research

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KUALA LUMPUR (Feb 27): RHB Retail Research said Powerwell Holdings Bhd  may rise higher after it breached above the 40 sen threshold.

In a trading stocks note today, the research house said this upward momentum is likely to continue, given that it has posted a second consecutive white candle.

“A positive bias may emerge above the 39.5 sen level, with an exit set below the 34 sen threshold.

“Towards the upside, the immediate resistance is at the 47 sen mark. This is followed by the 50 sen level,” it said.