Bermaz Auto
Bermaz, as cited by RHB Research’s technical analysis report (dated July 28), is poised for a technical breakout as it bounced off strongly towards the immediate resistance of MYR1.81 yesterday – coupled with strong trading volume. If a breakout happens, the bullish bias above that level may propel the stock towards the MYR1.90 mark, and then the MYR2.00 threshold. However, the stock’s uptrend movement may reverse if it falls below the MYR1.75 support – as it may form a “lower low” bearish pattern.
Pentamaster Corporation
Also cited by RHB Research’s technical analysis report (dated July 28) is Pentamaster as this counter is set to resume the uptrend as it rebounded strongly following the recent pullback – breaking above the immediate resistance of MYR3.83 with strong trading volume. The bulls above that level are expected to propel the stock towards the immediate resistance at MYR3.98, or 3 Jun’s high, before heading towards the MYR4.15 next resistance, or the high of 23 Mar’s high. If it falls below the support level of MYR3.67, the bullish momentum may reverse as it forms a “lower low” bearish pattern.
