RHB Retail Research says Advancecon Holdings Berhad formed a third consecutive white candle to cross above the 21-day SMA line. There is a good chance that the stock has completed its 3-month consolidation phase, and it is in the process of resuming its uptrend.
In a trading note, the research house says a positive bias may emerge above RM0.37, with resistance points pegged at RM0.41 and RM0.43.
This positive expectation should remain in place, if the RM0.37 support is not breached.