KUALA LUMPUR (April 17): RHB Retail Research said Salcon Bhd has confirmed the bullish reversal setup after breaking past a key resistance on strong volume.

In a trading stocks note on Wednesday, the research house said that the counter climbed above the 27.5 sen resistance with a “White Marubozu” bullish candlestick — signalling that the consolidation phase is over.

“Riding on this strong bullish momentum, expect a follow-through price action to test the next resistance at 32 sen, followed by 36 sen.

“On the other hand, breaching below the 25 sen support will resume the correction phase,” it said.