Niche Capital Emas expected to bounce off from sideways consolidation, says RHB Retail Research

KUALA LUMPUR (May 31): RHB Retail Research said Niche Capital Emas Holdings Bhd is expected to bounce off from its sideways consolidation phase, as it attempted to break above the immediate resistance on strong volume recently.

In a trading stocks note today, the research house said if it manages to break above the 24 sen immediate resistance level, a “higher low” price pattern will appear – indicating an upward movement.

“If that happens, the stock may climb towards the next resistance of 26 sen, 27.5 sen.

“If it falls below the 22.5 sen support, the stock may change its direction,” it said.