Revenue Group is resuming its uptrend following the recent mild pullback, as the technical analyst puts it. The trading price of Revenue Group bounced off above the MYR1.65 immediate resistance yesterday on higher trading volume – printing a “White Marubozu” bullish candlestick. If it manages to stay above that point, the bulls may propel the stock towards the MYR1.73 resistance, followed by the next resistance of MYR1.92. However, the momentum may lose steam if it falls below MYR1.57, printing a “lower low” bearish pattern.
The research house opined that Coraza Integrated Technology is firming up its recent uptrend reversal after it bounced off its support of MYR0.715 to close higher yesterday. If the positive momentum persists above that level, the bulls may drive it towards the next resistance of MYR0.82, followed by MYR0.875. If it falls below the support of MYR0.675, the stock will likely move downwards, beneath the 21-day average line.
LB Aluminium is seen by the research house as poised to jump higher after hitting the immediate resistance of MYR0.535 yesterday with a “White Marubozu” bullish candlestick. If it manages to surpass above that level, the bullish momentum may propel the stock towards the next resistance of MYR0.575, followed by the recent high of MYR0.63. Conversely, falling below the MYR0.505 support should trigger selling pressure below the 21-day average line.
Ancom Logistics is seen as breaching the technical breakout as it attempted to move past the consolidation phase of MYR0.225 yesterday, before retracing mildly at the close. If buying re-emerges to surpass that level, the stock is expected to travel towards the next resistance of MYR0.265, followed by MYR0.315 – the highest level in 2022. Conversely, falling below the immediate support of MYR0.195 may trigger the resumption of a downward correction, as it forms a “lower low” bearish pattern.
