RHB Retail Research: Ranhill may rebound further

Sourch: Bloomberg, RHB

RHB Retail Research says Ranhill may rebound further after it tested the MYR0.97 support lately.

In a trading note, the research house says yesterday’s white candle has engulfed the prior one to form a “Bullish Engulfing” pattern, implying a potential rebound.

“An upbeat bias may emerge above the MYR1.00 level, with an exit set below the MYR0.97 mark.

“Towards the upside, the immediate resistance is at the MYR1.07 level, followed by the MYR1.11 threshold,” it says.

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