Iskandar Waterfront City poised for positive rebound, says RHB Retail Research

• The research house said that if it manages to surpass that level, the bullish momentum is expected to propel the stock towards the 73.5 sen immediate resistance, followed by the 80.5 sen next resistance.

KUALA LUMPUR (Dec 21): RHB Retail Research said Iskandar Waterfront City Bhd is poised for a positive rebound after bouncing off the 21-day simple moving average line, testing the 67 sen immediate resistance level.

In a trading stocks note on Thursday, the research house said that if it manages to surpass that level, the bullish momentum is expected to propel the stock towards the 73.5 sen immediate resistance, followed by the 80.5 sen next resistance.

“Conversely, falling below the 60 sen support would point towards a potential downtrend,” it said.

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