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FTSE Bursa Malaysia KLCI (^KLSE) 1,646.53 14.83 (0.90%)
updated at: Wed, 09 Dec 2020, 05:25PM MYT

Southern Cable Group extending upward move, says RHB Retail Research

0225
Original Source From TheEdge Publish at Wed, 02 Dec 2020, 07:54AM

KUALA LUMPUR (Dec 2): RHB Retail Research said Southern Cable Group Bhd is extending the upward move since its IPO in October.

In a trading stocks note today, the research house said with an increasing trading volume, coupled with positive price action, we believe the stock is on track to record a new high soon.

“As a bullish bias emerged above the resistance level of 40.5 sen, expect the bullish momentum to reach the next resistance of 43 sen, followed by 46 sen.

“Meanwhile, a downward breach of the 37 sen support would negate this expectation,” it said.

Top Participation View More
updated at: Fri, 29 May 2020 MYT
Participation (%)
Bought (MYR)
Sold (MYR)
Net
Foreign
( 24,36 % )
2.31 B 2.23 B 77.37 M
Local Institution
( 39,38 % )
3.66 B 3.67 B 0.00 B
Local Retail
( 36,26 % )
3.34 B 3.41 B -0.07 B