YX Precious Metals
This counter is set for an uptrend reversal after breaking above the MYR0.19 immediate resistance yesterday, as stated in the RHB Research’s technical analysis report dated July 29– this was coupled with strong trading volumes. If the breakout sustains, the bullish bias above that level may propel the stock towards the MYR0.22 mark and then the MYR0.245 threshold. However, the counter may reverse if it falls below the MYR0.17 support – as it may form a “lower low” bearish pattern beneath the 21-day average line.
Tomei Consolidated
Tomei is set to resume its recent uptrend rebound as it broke above the MYR0.835 immediate resistance yesterday – printing a fresh “higher high” bullish pattern. The bulls above that level are expected to propel the stock towards the immediate resistance at MYR0.89 or 5 July’s low before heading towards the MYR0.93 next resistance, i.e. the high of 28 June’s. If the counter falls below the support level of MYR0.82, the bullish momentum may reverse as it forms a “lower low” bearish pattern.
