KUALA LUMPUR (Nov 9): RHB Retail Research said RGT Bhd is set to resume its uptrend towards the recent high as it bounced off strongly from the 21-day average line, surpassing the 41.5 sen previous resistance.

In a trading stocks note on Wednesday (Nov 9), the research house said that if the bullish momentum sustains above that level, the stock may propel towards Oct 27’s high of 45.5 sen, followed by the near seven-month high at 52 sen — the highest level since April 11.

“Conversely, the bullish momentum may reverse if it falls below the 39 sen support, forming a 'lower low' bearish structure below the average line,” it said.