Signature rises 2.06% on positive technicals

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KUALA LUMPUR (March 28): Signature International Bhd shares rose 2.06% in early trade today following a positive technical outlook for the stock.

At 9.22am, Signature added 1 sen to 49.5 sen with 74,100 shares done.

RHB Retail Research said Signature International Bhd may climb higher after it breached above the 46.5 sen threshold.

In a trading stocks note today, the research house said this can be viewed as a continuation of the bulls extending the rebound from March 19’s “Hammer” pattern.

“A bullish bias may emerge above the 46.5 sen level, with an exit set below the 42 sen threshold.

“Towards the upside, the immediate resistance is at 54 sen. This is followed by the 58.5 sen level,” it said.