Westports likely to continue uptrend movement, says RHB Retail Research

KUALA LUMPUR (Dec 21): RHB Retail Research said Westports Holdings Bhd is likely to continue its uptrend movement as it rebounded from the 21-day average line recently, heading towards the recent high of RM3.64.

In a trading stocks note on Wednesday (Dec 21), the research house said if the stock manages to climb above that level — forming a “higher high” bullish pattern — the bullish momentum would propel the stock higher towards RM3.80, followed by the RM4 mark.

“The momentum may be reversed if it drops below RM3.50 — forming a 'lower low' bearish pattern, below the average line,” it said.