KUALA LUMPUR (June 5): RHB Retail Research said QES Group Bhd (KL:QES) is poised for a technical breakout after rebounding off the 21-day simple moving average (SMA) line and climbing towards the immediate resistance level of 71.5 sen.

In a trading stocks note on Wednesday, the research house said that if a breakout happens above this level, the counter will trend higher towards 75 sen, followed by 80 sen.

“However, a fall below the 64.5 sen support level would negate the bullish setup, as the counter would then be trading below the SMA line,” the research house said.