KUALA LUMPUR (July 23): Shares in Telekom Malaysia Bhd (TM) added 1.3% this morning following a positive technical outlook on the stock.
At 11.56am, TM gained 6 sen to RM4.66 for a market capitalisation of RM17.51 billion.
RHB Retail Research said TM may climb higher after it breached above the RM4.50 threshold.
In a trading stocks note today, the research house said yesterday's candle has sent the stock to its new 52-week high, thereby enhancing the bullish sentiment.
"A bullish bias may appear above the RM4.50 level, with an exit set below the RM4.20 threshold.
"Towards the upside, the near-term resistance is at RM4.76. This is followed by the RM5.00 level," it said.