Eversendai attempting to resume upside movement, says RHB Retail Research

• In a trading stocks note on Friday, the research house said the counter is seen moving sideways below the 64 sen resistance.

KUALA LUMPUR (July 26): RHB Retail Research said Eversendai Corp Bhd (KL:SENDAI) is attempting to resume the upside movement, testing the immediate resistance.

In a trading stocks note on Friday, the research house said the counter is seen moving sideways below the 64 sen resistance.

“We observed that trading volume has been increasing in tandem with the share price, showing a bullish momentum is underway.

“If it climbs above the immediate resistance, a bullish bias will emerge. In this case, the stock may travel towards the 70 sen next resistance, followed by the 77 sen mark.

“Conversely, a breach below the 57 sen support opens the door for downward movements,” the house said.

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