KUALA LUMPUR (Dec 13): RHB Retail Research said SFP Tech Holdings Bhd is poised for an uptrend reversal, as it bounced off the 21-day simple moving average line and tested the strong resistance point of RM1.02 on Tuesday as trading volume surged.

In a trading stocks note on Wednesday, the research house said that pending a breakout above that level, the stock may propel higher towards the RM1.10 mark, before possibly testing the all-time-high of RM1.19.

“On the other hand, falling below the 93 sen support will negate the bullish setup,” it said.