The Edge Malaysia

S P Setia poised to resume its uptrend, says RHB Retail Research

RHB Retail Research said S P Setia Bhd is poised to resume its uptrend after climbing above the 21-day simple moving average (SMA) line, while eyeing a spot above the RM1.50 threshold on Monday.

In a trading stocks note on Tuesday, the research house said if the stock breaches that point, the bullish bias above that level may drive the stock higher towards the RM1.60 resistance, followed by RM1.70.

“However, breaching below the RM1.40 support would reverse the momentum, as it would then be trading below the SMA and forming a 'lower low' bearish structure,” it said.