RHB Retail Research: Pentamaster may rebound further

RHB Retail Research says Pentamaster Bhd may rebound further after it tested the MYR3.90 support in its latest session.

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

“An upbeat bias may emerge above the MYR4.18 level, with an exit set below the MYR3.90 mark.

“Towards the upside, the immediate resistance is at the MYR4.75 level, followed by the MYR5.07 threshold,” it says.

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