KUALA LUMPUR (Sept 14): RHB Retail Research said Theta Edge Bhd may initiate a positive rebound above its sideways consolidation phase of 91 sen as it bounced off the 21-day average line while attempting to hit the resistance level on Tuesday (Sept 13), with improved trading volume.

In a trading stocks note on Wednesday, the research house said that if it breaks above that level, the bulls may drive the counter higher towards the YTD high of RM1.01, followed by RM1.11, which was October 2021’s low.

“If it falls below the 80 sen support, the momentum may reverse direction, as it forms a 'lower low' bearish pattern below the average line,” it said.