Monday 07 Oct 2024
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KUALA LUMPUR (May 4): RHB Retail Research said Weida (M) Bhd may climb higher after posting a long white candle and hitting its new 52-week high.

In a trading stocks note today, the research house said yesterday’s long white candle can be viewed as the bulls extending the rebound from April 14’s “Bullish Harami” pattern.

“A bullish bias may appear above the RM1.96 level, with an exit set below the RM1.81 threshold.

“Towards the upside, the immediate resistance level is seen at RM2.25. This is followed by the RM2.50 level,” it said.

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