Perak Transit
RHB Research has identified Perak Transit as having the potential to resume its uptrend according to its technical analysis as it reclaimed above the 21-day average line yesterday while eyeing to hit the MYR0.725 immediate resistance. If it manages to move past that level, the stock may travel towards 23 May’s high of MYR0.75, followed by MYR0.80 or 22 Feb 2021’s high. However, the stock may reverse direction if it falls below the MYR0.69 support – forming a “lower low” bearish pattern beneath the average line.
Kumpulan Jetson
Jetson is staging an upward rebound from the recent pullback as it rebounded strongly from the 21-day average line, breaching the MYR0.275 resistance yesterday – following the formation of a “White Marubozu” bullish candlestick last Friday. Coupled with above the 30-day average trading volume, the stock is expected to climb further towards the MYR0.30 mark, followed by MYR0.32 – 8 June’s high. If it falls below the support level of MYR0.245, the stock may trend downwards, forming a “lower low” bearish pattern.