KUALA LUMPUR (Dec 28): RHB Retail Research said Naim Holdings Bhd is set for an uptrend reversal after it reclaimed above the 81 sen critical resistance level on Wednesday — amid trading above the rising 21-day simple moving average (SMA) line.

In a trading stocks note on Thursday, the research house said that if the breakout is sustained, the stock will likely advance towards the 88.5 sen resistance, followed by the next resistance at 97.5 sen, or the 52-week high.

“Conversely, a drop below the 76 sen support would invalidate the bullish setup, falling below the SMA line,” it said.