Swift Haulage
Swift Haulage, according to RHB Research’s technical analysis report (dated August 2) is poised for an uptrend reversal as it climbed higher and attempted to break above the immediate resistance of MYR0.51 yesterday. If a breakout above that level happens, the bullish bias may propel the stock towards the MYR0.59 resistance or 14 June’s high, and then MYR0.645 – 10 Jun’s high. However, the stock may reverse direction if it falls below the MYR0.46 support level – as it may form a “lower low” bearish pattern beneath the 21-day average line.
Mestron Holdings
This counter may propel higher as it bounced off the 21-day average line while aiming for the immediate resistance of
MYR0.35 yesterday – supported by improved trading volume. If it breaches that level, the bulls should push the stock towards the resistance point of MYR0.375 (the high of 18 Jun 2021), before heading for MYR0.385 i.e. the high of 10 May 2021. If it drops below MYR0.33, the bullish momentum may reverse direction as it forms a “lower low” bearish pattern below the average line.
