Thursday 30 May 2024
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KUALA LUMPUR (May 12): RHB Retail Research said Rubberex Corporation Bhd is poised to rebound from its recent pullback as it bounced off above the 21-day average line after attempting to climb above Tuesday’s 73 sen high on Wednesday.

In a trading stocks note on Thursday (May 12), the research house said if the stock manages to close above that mark, the stock is set to reclaim the recent high at 78 sen, followed by the 84.5 sen next resistance.

“Meanwhile, a drop below the 70 sen support may reverse the momentum southwards as it forms a 'lower low' bearish structure below the average line,” it said.

 

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