Malaysia Airports Holdings
Malaysia Airports, as the RHB Research’s technical analysis report puts it, is poised to climb higher as it attempted to move past the MYR6.78 recent high yesterday while forming a “higher low” bullish structure. If a breakout above that level happens, it may drive the stock towards the MYR7.00 threshold, followed by the MYR7.20 next resistance. However, the stock may see a reversal if it falls below the MYR6.60 support level – forming a “lower low” bearish pattern.
Hwa Tai Industries
Hwa Tai is eyeing an uptrend rebound after bouncing off the 21-day average line yesterday while hitting theMYR0.655 immediate resistance on stronger volume. If the breakout above that level happens, the stock is expected to climb further towards MYR0.69, followed by the next resistance at MYR0.75. The as research house puts it in its technical analysis report, if it falls below the support level of MYR0.615 – yesterday’s intraday low – the stock may trend downwards, below the average line.
Fiamma Holdings
Fiamma is set for a counter-trend rebound as it surpassed its sideways consolidation phase of MYR0.93, reclaiming above the 21-day average line. If the bullish momentum persists, the stock may propel towards the MYR1.00 psychological level, before reclaiming the historical high at MYR1.05. Conversely, the momentum may reverse if it falls below the MYR0.90 support – forming a “lower low” bearish pattern.
Datasonic Group
Datasonic is in the process of consolidating sideways above the 21-day average line. The above average volume during the recent bullish sessions indicated that the bulls are eyeing to uplift the consolidation phase of MYR0.59. If the bulls manage to surpass that level, the stock may climb towards MYR0.625, followed by MYR0.645. Meanwhile, a fall below the MYR0.55 support may change the sideways movement into a downtrend as it forms a “lower low” bearish structure.
