AWC’s price poised to scale higher, says RHB Retail Research

• “The renewed momentum should propel the counter’s price towards the next resistance pegged at 70 sen and followed by the 75 sen level."

KUALA LUMPUR (Feb 19): RHB Retail Research said AWC Bhd’s price is poised to scale higher after it broke past the key resistance on high volume.

In a trading stocks note on Monday, the research house said that the stock’s price managed to climb above the 21-day simple moving average line and close above the 65 sen resistance. The latest price action confirmed a bullish setup.

“The renewed momentum should propel the counter’s price towards the next resistance pegged at 70 sen and followed by the 75 sen level.

“On the downside, breaching the 60 sen support negates the bullish setup,” it said.

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