Two Trading Stocks with Technical Rebound: MSM M’sia Holdings, Pappajack

MSM Malaysia Holdings

RHB Research’s latest technical analysis dated July 19 cited MSM, as it is set to rebound higher as it surpassed its consolidation phase of MYR0.895 yesterday. The bullish bias above that level may propel the stock towards the resistance of MYR0.95 (or the high of 10 Jun), followed by the MYR1.00 psychological threshold. However, the stock may reverse direction if it falls below the MYR0.88 support – beneath the 21-day average line.

Pappajack

Whereas this counter, according to RHB Research technical analysis, is eyeing for a rebound above the MYR0.49 resistance as it closed at that level – bouncing off the 21-day average line. If it breaches above that level, the stock may climb further towards the next resistance of MYR0.52 – which was the high of 4 Jul – before heading towards MYR0.545, or the high of 28 Apr. If it falls below the support level of MYR0.47, the stock may trend downwards, below the average line.

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