KUALA LUMPUR (Aug 16): RHB Retail Research said Boilermech Holdings Bhd may rebound higher after it continued holding above the 70.5 sen support.
In a trading stocks note today, the research house said as the 21-day SMA line is likely to move upwards, the bullish sentiment has been enhanced.
“A positive bias may emerge above the 70.5 sen level, with an exit set below the 70.5 sen threshold.
“Towards the upside, the immediate resistance is at the 75.5 sen level. This is followed by the 79 sen level,” it said.