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ASTINO (7162) ASTINO BHD prepared for an uptrend reversal, says RHB Retail Research

KUALA LUMPUR (Oct 27): RHB Retail Research said Astino Bhd is  prepared for an uptrend reversal  after it bounced off its  support  point  and  touched  the  immediate  resistance  of 72 sen on  improved  trading  volume  yesterday  –  printing a “higher low” bullish pattern with “White Marubozu” candlestick.

In a trading stocks note today, the research house said if a breakout is sustained above this level, the buying interest may  follow  through  towards  the 77.5 sen resistance level, before driving it towards 87 sen level or June’s high.

“If it falls below the 68 sen support level, the momentum may dissipate,”it said.


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