KUALA LUMPUR (May 31): RHB Retail Research said Poh Kong Holdings Bhd is poised for another rally after it retraced towards the support and bounced off recently.
In a trading stocks note today, the research house said with volume tapering during the retracement, it is likely that the stock has found its footing.
“If it manages to climb above the immediate resistance of 91 sen, a bullish bias should emerge.
“If that happens, it may climb further towards the next resistance levels of 94 sen and RM1.05.
“Meanwhile, breaching below the 86.5 sen support level may invalidate this expectation,” it said.
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