KUALA LUMPUR (July 25):RHB Retail Research said SAM Engineering & Equipment Bhd may climb higher after posting a long white candle and hitting its new 52-week high.
In a trading stocks note today, the research house said with the 21-day SMA line edging upwards, this also implies a positive outlook.
“A bullish bias may emerge above the RM8.40 level, with an exit set below the RM8.06 threshold.
“Towards the upside, the immediate resistance is at RM9.00. This is followed by the RM9.50 level,” it said.