Fajarbaru rises 1.06% on positive technicals

KUALA LUMPUR (Nov 3): Fajarbaru Builder Group Bhd shares rose 1.06% this morning following a positive technical outlook for the stock.

At 9.16am, Fajarbaru gained 1 sen to 95 sen with 173,800 shares traded.

RHB Retail Research said Fajarbaru Builder Group Bhd may climb higher after forming a white candle and hitting its highest close in more than two months.

In a trading stocks note today, the research house said an upward momentum may persist after it breached above the downtrend line drawn in the chart.

“A bullish bias may appear above the 92 sen level, with an exit set below the 84 sen threshold.

“Towards the upside, the immediate resistance level is at RM1.01. This is followed by the RM1.20 level,” it said.— theedgemarkets.com

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