RHB Retai Research: QL Resources may rebound higher

Source: RHB, Bloomberg

RHB Retail Research says QL Resources Bhd may rebound higher after it continued holding above the MYR8.00 support.

In a trading note, the research house says given that it has formed a long white candle above the rising 21-day SMA line, this indicates a positive sign.

“An upbeat bias may emerge above the MYR8.28 level, with an exit set below the MYR8.00 mark.

“Towards the upside, the immediate resistance is at the MYR9.00 level, followed by the MYR9.50 threshold,” it says.

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