KUALA LUMPUR (Nov 11): RHB Retail Research said QES Group Bhd is set for an uptrend reversal as it rebounded strongly from the 21-day average line on Thursday (Nov 10), surpassing the previous resistance of 46.5 sen.

In a trading stocks note on Friday, the research house said that supported by the surging trading volume as it printed a “higher high” bullish pattern, it expects the bulls to propel the stock towards the 50 sen threshold, followed by the eight-week high of 54 sen resistance, the highest point since Sept 12.

“Conversely, the bullish momentum may be reversed if it falls below the 43 sen support, forming a 'lower low' bearish structure below the average line,” it said.