QES Group active, rises 1.47% on positive technicals

QES Group active, rises 1.47% on positive technicals
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KUALA LUMPUR (Sept 26): QES Group Bhd rose 1.47% in active trade this morning following a positive technical outlook on the stock.

At 9.05am, QES Group rose 0.5 sen to 34.5 sen with 2.37 million shares traded.

RHB Retail Research said QES Group Bhd may climb higher after forming a white candle and hitting its new 52-week high.

In a trading stocks note today, the research house said in view of the positive slope of the 21-day SMA line, this also implies a positive outlook sentiment.

“A bullish bias may emerge above the 33 sen level, with an exit set below the 30 sen threshold.

“Towards the upside, the immediate resistance is at 37 sen. This is followed by the 40 sen level,” it said.