Yew Lee Pacific Group
The manufacturer of industrial brush, according to RHB Research’s technical analysis report dated August 9, is poised to resume its uptrend, as it attempted to breach the immediate resistance of MYR0.285 yesterday, coupled with improved trading volume while firming up its “higher low” bullish structure. If a breakout above that level happens – thereby forming a “higher high” bullish pattern – the bulls are expected to propel the stock towards MYR0.30, or 16 June’s high, followed by the MYR0.33 historical high. However, the stock may reverse direction if it falls below the MYR0.27 support, as it may form a “lower low” bearish pattern.
NCT Alliance
This counter could resume its uptrend reversal as it bounced off the 21-day average line while heading towards the
immediate resistance of MYR0.43, following a recent pullback. If it pushes past that point, the stock should climb towards
MYR0.47 or 3 Mar’s high, followed by the MYR0.50 threshold. If it falls below the MYR0.40 support, the recent uptrend
reversal may be voided as it would form a “lower low” bearish pattern below the average line
