Southern Steel may rebound higher, says RHB Retail Research

Posted on 25 January 2018

Source: The Edge

RHB Retail Research said Southern Steel Bhd may rebound higher after it continued holding above the RM2.00 support.

In a trading stocks note today, the research house said given that it has formed a white candle for the second consecutive day, the positive sentiment has been enhanced.

“A bullish bias may appear above the RM2.00 level, with an exit set below the RM2.00 threshold.

“Towards the upside, the near-term resistance level is at RM2.29. This is followed by the RM2.40 level,” it said. 

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