Hevea
Hevea is attempting to rebound from its recent retracement, as it bounced off the support towards hitting the MYR0.55
resistance. If it manages to reclaim a position above that threshold, a counter-trend rebound might be seen heading towards hitting the MYR0.60 resistance – this is followed by the next resistance at MYR0.645. However, the stock may continue its downtrend movement if it falls below the MYR0.50 support, as it forms a “lower low” bearish pattern.
Hwa Tai Industries
Hwa Tai Industries is poised to climb upwards as it move past the MYR0.62 resistance yesterday – hitting the 21-day average
line. If a breakout above that level happens, the stock may propel further towards the next resistance set at MYR0.69. This is followed by MYR0.75 – the YTD high. If it falls below the support threshold of MYR0.58, selling pressure may emerge, as this forms a “lower low” bearish pattern.
IGB REIT
IGB REIT is poised to propel northwards, as buying pressure was observed following the recent pullback to form a “higher low” bullish pattern below the MYR1.65 immediate resistance. If this resistance is breached, the stock may trend higher towards MYR1.70 and then the MYR1.75 resistance. Conversely, the momentum may reverse if it drops below the MYR1.56 support – trading below the 21-day average line.
CJ Century Logistics Holdings
CJ Century is set to resume its uptrend movement. This is as it rebounded above its MYR0.62 consolidation phase on stronger volumes recently while maintaining above that level yesterday – which is also above the 21-day average line. If it the momentum sustains, the stock is set to propel stronger towards the MYR0.675 resistance, followed by the MYR0.695 recent high. Meanwhile, a drop below the MYR0.595 support may reverse the momentum southwards, as it forms a “lower low” bearish structure below the average line.
