KUALA LUMPUR (Aug 8): RHB Retail Research said Southern Steel Bhd may rise higher after it breached above the downtrend line drawn in the chart.

In a trading stocks note today, the research house said this close has sent the stock to its highest close in more than two months, thereby enhancing the positive sentiment.

“A bullish bias may appear above the RM1.70 level, with an exit set below the RM1.55 threshold.

“Towards the upside, the immediate resistance level is at RM2.00. This is followed by the RM2.50 level,” it said.