Global Oriental
This counter , according to RHB Research’s technical analysis report (dated July 26), is set to rebound higher as it experienced a technical breakout yesterday – surpassing the MYR0.31 resistance level on improved trading volumes and forming a “higher high” bullish structure. If the breakout sustains, the bullish bias may propel the stock towards the MYR0.34 next resistance or 5 Jul’s high. This is followed by MYR0.39, which was 30 May’s high. However, the counter’s uptrend movement may reverse if it falls below the MYR0.285 support, as it may form a “lower low” bearish pattern below the 21-day average line.
Kumpulan Jetson
Jetson is poised for an uptrend rebound as it is in the process of consolidating sideways following a recent rebound – hitting the 21-day average line. If it manages to move past the immediate resistance of MYR0.26 – last Thursday’s high – the bulls are expected to propel the stock towards the next resistance at MYR0.305 before heading towards the MYR0.32 strong resistance, ie the high of 8 Jun. If it falls below the MYR0.235 support level, the counter may trend downwards, as the selling pressure is accelerating below the average line.
