KUALA LUMPUR (Dec 5): RHB Retail Research said Muhibbah Engineering (M) Bhd may rebound further, after pushing above the 21-day SMA line while heading towards the 80 sen mark.

In a trading stocks note on Tuesday, the research house said if a breakout above that level happens, the renewed momentum should lift the stock towards 85 sen, followed by the next resistance point of 95 sen.

“On the other hand, falling below the 72 sen support would lead to a resumption of the bearish phase,” it said.