RHB Research Trading Stocks: EP Manufacturing, Matrix Concepts Holdings, Kumpulan Fima, Choo Bee Metal Industries

EP Manufacturing

EP Manufacturing is poised for an uptrend rebound, as it rebounded strongly from from the recent pullback, eyeing to hit
the MYR1.05 resistance level – it is firming up above the 21-day average line. If it manages to break above that threshold, an uptrend resumption might be seen heading towards hitting the MYR1.10 mark and followed by the MYR1.15 next resistance. However, the stock may reverse to a downwards trend if it falls below the MYR0.98 support, as it forms a “lower low” bearish pattern, which is below the average line.

Matrix Concepts Holdings

Matrix is set to print a new high level, having surpassed its MYR2.40 all-time high yesterday with a long white bullish candlestick – this was supported by improved trading volumes. If the breakout sustains, the stock may propel further towards marking a new high at MYR2.55. This is followed by the MYR2.60 mark. If it falls below the support of MYR2.33 – forming a “lower low” bearish pattern – the stock may trend downwards.

Kumpulan Fima

Fima is eyeing to rebound above its sideways consolidation phase. This is as it jumped off its support yesterday and hit the MYR2.40 resistance level, as well as the 21-day average line, on stronger volumes. If the momentum re-emerges to surpass both the average line and resistance level, the stock may pose an uptrend reversal towards hitting the MYR2.48 resistance and then the MYR2.51 multi-year high. Conversely, the momentum may reverse if it drops below the MYR2.35 support – drawing a “lower low” bearish pattern beneath the average line.

Choo Bee Metal Industries

Choo Bee is set to propel northwards as it broke above the MYR2.22 resistance on improved trading volumes yesterday. The strong buying interest above that level may propel the stock towards the MYR2.41 resistance. This is then followed by the MYR2.54 next resistance, i.e. the highest point seen since Jun 2021. Meanwhile, a drop below the MYR2.13 support may reverse the momentum southwards, as it forms a “lower low” bearish structure below the 21-day average line.

Previous articleInvestors May Favour Energy Stocks On The Back Of Good Results Of Energy Companies
Next article1982 Ventures Closes Oversubscribed Debut US$20m Fund

LEAVE A REPLY

Please enter your comment!
Please enter your name here