Revenue Group rises 3.87% on positive technical outlook

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KUALA LUMPUR (Aug 20): Revenue Group Bhd shares rose 3.87% this morning following  positive technical outlook on the stock.

At 9.37am, Revenue Group added 6 sen to RM1.61 for a market capitalisation of RM373.52 million.

RHB Retail Research said Revenue Group may rebound higher after it continued holding above the RM1.41 support.

In a trading stocks note today, the research house said given that it has formed a long white candle above the rising 55-day SMA line, this means that the bullish sentiment has been enhanced.

“A positive bias may emerge above the RM1.50 level, with an exit set below the RM1.41 threshold.

“Towards the upside, the immediate resistance is at the RM1.63 level. This is followed by the RM1.71 level,” it said.