Coastal Contracts is set for a counter-trend rebound as it bounced off strongly to close above the MYR1.76 resistance –
forming a “White Marubozu” bullish candlestick. If the breakout is sustained above that level, the stock may breach above the 21-day average line while heading towards the MYR1.86 resistance, followed by the high of April, that is MYR1.98. However, the uptrend reversal may turn around if it falls below the MYR1.64 support threshold, thereby forming a “lower low” bearish pattern.
Uzma is reclaiming the area above its sideways consolidation level of MYR0.48 after it jumped above that yesterday, on
stronger trading volume. Bullish pressure above that point is expected to persist towards the recent high of MYR0.505, then
MYR0.535. If it falls below the support threshold of MYR0.45, selling pressure may emerge as it sets to break down the
consolidation phase – below the 21-day average line.
PMB Technology is preparing for an uptrend reversal as it bounced off strongly from the recent bottom to close positively last Friday – while aiming for the immediate resistance of MYR3.44. If the positive momentum resumes and breaches above the resistance level, an uptrend momentum could be established to boost the stock further towards MYR3.60, followed by the MYR3.75 resistance. Conversely, the downtrend below the 21-day average line may be resumed if it falls below the MYR3.13 support – negating the recent bullish candlestick pattern.
YTL Power International is poised to resume its uptrend as it jumped above the 21-day average line while heading towards the MYR0.795 resistance level. If it manages to push past that point, the stock is set to rise further towards the recent high of MYR0.84, followed by the MYR0.90 mark. Meanwhile, a drop below the MYR0.735 support may reverse the momentum southwards as it forms a “lower low” bearish structure below the average line.
