Sealink rises 1.82% on positive technical outlook

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KUALA LUMPUR (Aug 20): Shares in Sealink International Bhd rose 1.82% in early trade today following a positive technical outlook on the stock.

At 9.21am, Sealink added 0.5 sen to 28 sen for a market capitalisation of RM140 million.

RHB Retail Research said Sealink may climb higher after forming 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 sentiment.

“A bullish bias may emerge above the 26 sen level, with an exit set below the 23.5 sen threshold.

“Towards the upside, the immediate resistance is at 30 sen level. This is followed by the 32.5 sen level,” it said.