Cnergenz
This counter is set to resume its uptrend movement as it broke above the MYR0.625 immediate resistance yesterday, following the recent pullback. Coupled with strong trading volume, the bullish bias above the level is expected to propel the stock towards MYR0.68, or 31 May’s high, followed by its historical high at MYR0.71. However, the stock may reverse if it falls below the MYR0.585 support – as it may form a “lower low” bearish pattern.
Sam Engineering & Equipment
SAM is set propel higher after breaching the MYR4.50 immediate resistance yesterday on strong trading volume, i.e. significantly higher than the 30-day average volume. The bullish momentum above that level is expected to propel the stock towards MYR4.79, or 5 April’s high, and then the MYR4.94 next resistance level – 25 March’s high. If it falls below the MYR4.08 support, the recent uptrend movement may reverse as it forms a “lower low” bearish pattern.
