KUALA LUMPUR (Jan 28): Shares in Top Glove Corp Bhd rose as much as 9.9% this morning to its all-time high, following a positive technical outlook on the stock, against the backdrop of the outbreak of the mystery coronavirus in China.

At 9.31am, Top Glove was up 9.21% or 51 sen to RM6.05, valuing it at RM15.49 billion.

The stock had earlier risen to a high of RM6.10.

RHB Retail Research said Top Glove may climb higher after posting a white candle and hitting its new 52-week high.

In a trading stocks note today, the research house said this can be viewed as a continuation of the bulls extending the buying momentum from Jan 22’s upside gap.

“A positive bias may emerge above the RM5.46 level, with an exit set below the RM5.16 mark.

“Towards the upside, the immediate resistance is at the RM6.00 level, followed by the RM6.50 threshold,” it said.