Saturday 02 Nov 2024
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KUALA LUMPUR (June 26): RHB Retail Research said MESB Bhd (KL:MESB) is posing a bullish setup after climbing above a key resistance.

In a trading stocks note on Wednesday, the research house said the counter had closed above the 58 sen resistance, confirming the bullish setup, while the 21-day simple moving average line was trending upwards.

“Meanwhile, trading volume has been increasing, in tandem with the share price, indicating that a strong bullish momentum is under way.

“The stock is eyeing to test the next resistance at 64 sen, followed by the 70 sen level.

“On the other hand, falling below the 53 sen support would negate the bullish setup,” RHB said.

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