Poh Kong Eyeing to Resume Upside Movement

RHB Retail Research said Poh Kong Holdings Bhd is eyeing to resume the upside movement, testing the immediate resistance with high volume.

In a trading stocks note on Monday, the research house said that the counter is seen consolidating sideways below the RM1.13 resistance.

“We observe that trading volume has increased, this shows the bullish momentum is picking up pace again.

“In the event the counter breaches past the immediate resistance, it should climb towards the next resistance at RM1.20, followed by RM1.30.

“On the contrary, falling below the RM1 support will confirm the bearish setup,” it said.