KUALA LUMPUR (Aug 5): Shares in Techfast Holdings Bhd rose 1.56% this morning following a positive technical outlook on the stock.
At 9.10am, Techfast added 0.5 sen to 32.5 sen for a market capitalisation of RM74.15 million.
RHB Retail Research said Techfast Holdings Bhd may rebound higher after it tested the 30 sen support in its latest session.
In a trading stocks note today, the research house said last Friday’s white candle has engulfed the prior one to form a “Bullish Engulfing” pattern, implying a potential rebound.
“A bullish bias may appear above the 31 sen level, with an exit set below the 30 sen threshold.
“Towards the upside, the near-term resistance is at 34 sen. This is followed by the 35.5 sen level,” it said.