SYF Resources set for an uptrend reversal, says RHB Retail Research

SYF Resources set for an uptrend reversal, says RHB Retail Research
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KUALA LUMPUR (Sept 21): ): RHB Retail Research said SYF Resources Bhd  is set for an uptrend reversal eyeing its recent high, after it moved past the nearest resistance of 41.5 sen on strong volume – printing a long white candlestick.

In a trading stocks note today, the research house said if the stock manages to remain above that level, the positive momentum may continue to propel the stock towards 46 sen recent high, followed by 50.5 sen, which was its 52-week high.

“However, this expectation will be cancelled if it falls below the support of 38.5 sen,” it said.