DRB-Hicom showing signs of a rebound, says RHB Retail Research

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KUALA LUMPUR (Sept 18): RHB Retail Research DRB-Hicom Bhd has been showing signs of a rebound, after it experienced a sharp decline on Aug 26-29.

In a trading stocks note today, the research house said a positive bias may emerge above RM2.37 (the low of the “Long-Legged Doji” formation) – while a stop-loss can be placed below the same mark.

“Towards the upside, the resistance marks are expected at RM2.56, followed by RM2.66 (near the 30-day SMA line),” it said.