Bina Darulaman poised to resume uptrend, says RHB Retail Research

• The research house said that if it manages to reclaim the 42.5 sen immediate resistance, the stock would trend higher towards the 44.5 sen recent high, followed by the 50 sen next resistance.

KUALA LUMPUR (April 4): RHB Retail Research said Bina Darulaman Bhd is poised to resume its uptrend after Wednesday’s retreat from the recent breakout — maintaining above the rising 21-day simple moving average (SMA) line.

In a trading stocks note on Thursday, the research house said that if it manages to reclaim the 42.5 sen immediate resistance, the stock would trend higher towards the 44.5 sen recent high, followed by the 50 sen next resistance.

“However, a fall below 37.5 sen invalidates the bullish setup,” it said.

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