QL Resources eyeing to resume uptrend, says RHB Retail Research

QL Resources eyeing to resume uptrend, says RHB Retail Research
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KUALA LUMPUR (July 5): RHB Retail Research said QL Resources Bhd is eyeing to resume its uptrend as it bounced off the immediate support to head towards the recent high of RM5.40 – it closed on a positive tone last Friday with the “White Marubozu” bullish candlestick.

In a trading stocks note today, the research house said if a breakout happens above that level, the bullish momentum may propel the stock towards the RM5.70 next resistance based on 26 Aug’s high, followed by the RM6.00 threshold.

“However, the stock may reverse direction if it falls below the RM5.18 support – forming a “lower low” bearish pattern,” it said.