Capitaland Malaysia in process of consolidating sideways, says RHB Retail Research

KUALA LUMPUR (June 10): RHB Retail Research said Capitaland Malaysia Trust is in the process of consolidating sideways above the 21-day average line, with improved trading volume seen on Thursday (June 9) – forming a “higher low” bullish pattern.

In a trading stocks note on Friday, the research house said if the counter manages to break out above the 60 sen resistance level, it is expected to climb further towards 62 sen, followed by the next resistance at 63.5 sen.

“If it falls below the support level of 56.5 sen, the stock may trend downwards below the average line,” it said.