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15 Nov 2019
The Edge : RCE Capital rises 1.73% on positive technical outlook
 
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RCE Capital rises 1.73% on positive technical outlook

Surin Murugiah / theedgemarkets.com
 
KUALA LUMPUR (Nov 15): Shares in RCE Capital Bhd rose 1.73% in the morning session today, following a positive technical outlook on the stock.

At the midday break, RCE Capital added 3 sen to RM1.76, for a market capitalisation of RM649.47 million.

RHB Retail Research said RCE Capital may move higher after it continued holding above the RM1.62 support.

In a trading stocks note today, the research house said given that it has formed a long white candle above the rising 21-day simple moving average (SMA) line, this means that the bullish sentiment has been enhanced.

"A positive bias may emerge above the RM1.69 level, with an exit set below the RM1.62 threshold.

"Towards the upside, the immediate resistance is at the RM1.90 mark. This is followed by the RM2.00 level," it said.