Dufu Technology is poised to rebound higher, says RHB Retail Research

KUALA LUMPUR (June 27): RHB Retail Research said Dufu Technology Bhd is poised to rebound higher after bouncing off the 21-day average line last Friday, while moving towards the RM2.90 immediate resistance, on strong volume.

In a trading stocks note today, the research house said if a breakout occurs above that level, the bullish bias may propel the stock towards the RM3.00 mark, before reclaiming March’s high of RM3.15 (a resistance level).

“However, the stock may reverse direction if it falls below the RM2.61 support – forming a “lower low” bearish pattern below the average line,” it said.

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