SDS Group likely in process of extending rebound, says RHB Retail Research

SDS Group likely in process of extending rebound, says RHB Retail Research
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KUALA LUMPUR (Nov 30): RHB Retail Research said SDS Group Bhd is likely in the process of extending its rebound, after forming a “double bottom” formation in October at the low of 16 sen.

In a trading stocks note today, the research house said the stock is now trading above the 21-day simple moving average (SMA) line, which is also curving upwards.

“A positive bias may appear above 18.5 sen, with resistance levels set at 21.5 sen and 23.5 sen.

“A downside breach of 18.5 sen would cancel this forecast,” it said.