KUALA LUMPUR (April 27): RHB Retail Research said Rubberex Corporation (M) Bhd may rebound higher after it attempted to break above the immediate resistance level on stronger volume yesterday.
In a trading stocks note today, the research house said as the stock formed a “higher low” structure, this indicates a positive sign.
“A positive bias may emerge above the immediate resistance level of RM1.50.
“Towards the upside, the immediate resistance is pegged at the RM1.60 level, followed by the RM1.65 level.
“Meanwhile, if the stock breaches below the RM1.40 level, the potential rebound may not happen,” it said.