Quick take: PMB Technology shares down on profit-taking

KUALA LUMPUR: Shares in PMB Technology Bhd trend lower in early trade Thursday as investors take profit after yesterday’s gains.

The counter declined 2.36%, or 32 sen to RM13.20 at 9.54am. Year-to-date, the counter has appreciated over 181%.

RHB Retail Research said PMB Technology is poised for a rebound as it bounced off mildly from a recent pullback to hit the RM14.00 threshold yesterday on surging volume.

“If it manages to breach above that level, strong buying interest may drive the stock towards the RM15.00 level before it reaches the RM16.30 all-time high level.

“Conversely, falling below the RM12.20 support level will cancel this expectation,” it said.

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