RHB Retail Research: AME Elite could signal resumption of upward trend

RHB Retail Research says AME Elite Consortium Berhad has been undergoing a relatively narrow sideways consolidation over the past week or so, above the rising 21-day SMA line.

In a trading note, the research house says toward the upside, an upside breach of the MYR1.78 resistance could signal the resumption of the uptrend.

“The following resistance levels are at MYR1.85, followed by MYR1.92.

“A stop-loss can be placed below MYR1.73,” it says.

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