KUALA LUMPUR (March 31): RHB Retail Research said Boilermech Holdings Bhd is poised to extend its uptrend after consolidating above the resistance-turn-support level of RM1.33 for seven consecutive sessions.
In a trading stocks note today, the research house said the stock’s trading volume has been rising lately, indicating that the bulls are gaining traction.
“If it manages to stay above the resistance-turn-support level of RM1.33, the bullish momentum may lift it towards the next resistance of RM1.50, followed by RM1.56.
“This trading set-up would be nullified if the RM1.33 support is breached,” it said.
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