QL Resources may rebound higher, says RHB Retail Research

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KUALA LUMPUR (May 14): RHB Retail Research said QL Resources Bhd may rebound higher after it continued holding above the RM8.00 support.

In a trading stocks note today, the research house said given that it has formed a long white candle above the rising 21-day SMA line, this indicates a positive sign.

“An upbeat bias may emerge above the RM8.28 level, with an exit set below the RM8.00 mark.

“Towards the upside, the immediate resistance is at the RM9.00 level, followed by the RM9.50 threshold,” it said.