QES Group staging for strong reversal, says RHB Retail Research

QES Group staging for strong reversal, says RHB Retail Research
-A +A

KUALA LUMPUR (Aug 4): RHB Retail Research said QES Group Bhd is staging for a strong reversal as it bounced off from below to above the 21-day SMA line yesterday – supported by a “Double Bottom” reversal pattern from its recent consolidation.

In a trading stocks note today, the research house said if the stock manages to sustain above the immediate support level of 83.5 sen, the positive momentum will continue towards the next hurdle at 90 sen, followed by the historical high of 97.5 sen.

“Meanwhile, if it cuts below the 80 sen support, this expectation will be nullified,”it said.