KUALA LUMPUR (April 21): RHB Retail Research said Guan Chong Bhd may rebound higher after it continued holding above the RM2.12 support.

In a trading stocks note today, the research house said in view that the 21-day SMA line is likely to begin turning upwards, this implies a positive outlook.

“An upbeat bias may emerge above the RM2.27 level, with an exit set below the RM2.12 mark.

“Towards the upside, the immediate resistance is at the RM2.50 level, followed by the RM2.78 threshold,” it said.