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Supermax set for an uptrend reversal, says RHB Retail Research

KUALA LUMPUR (Sept 1): RHB Retail Research said Supermax Corp Bhd is set for an uptrend reversal after it broke past the immediate resistance of RM3.25 on strong trading volume.

In a trading stocks note today, the research house said that riding on a “higher high” bullish pattern formed above the 21-day SMA line, the bullish momentum will boost the stock towards the next resistance of RM3.50 before reaching the higher hurdle of RM3.78.

“However, falling below the RM3.13 support – which is below the moving average line – may see the direction shift downwards,” it said.

http://www.theedgemarkets.com/article/supermax-set-uptrend-reversal-says-rhb-retail-research

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