KUALA LUMPUR (Oct 6): RHB Retail Research said PMB Technology Bhd is set to reclaim the historical high as it staged a breakout above the RM4.05 level yesterday despite the sharp profit taking yesterday.

In a trading stocks note today, the research house said that strong buying interest above that level – and also above the 21-day average line – is expected to propel the stock higher in the later sessions to hit the RM4.23 recent high.

“This is then followed by the historical high at the RM4.49 mark.

“However, the counter may reverse direction if it falls below the RM3.65 support – forming a “lower low” bearish structure below the average line,” it said.