Ann Joo Resources
Ann Joo, according to RHB Research’s technical analysis report (dated August 10), is poised to resume its uptrend rebound as it bounced off from a recent pullback to hit the MYR1.19 immediate resistance yesterday – coupled with improved trading volume. If a breakout above that level happens, the stock may climb further towards MYR1.25 ie 2 August’s high, followed by MYR1.32 (the high of 13 June). However, the stock may reverse direction if it falls below the MYR1.13 support – as it may form a “lower low” bearish pattern.
Mynews Holdings
This counter is set to rebound upwards further, after it strongly breached the immediate resistance of MYR0.425
yesterday – printing a bullish “Marubozu” candlestick while forming a “higher high” bullish pattern. The bullish bias above
that level is expected to propel the stock towards MYR0.46, or 30 June’s high, then the MYR0.48 level (29 Jun’s high). If it falls below the MYR0.395 support, the recent uptrend reversal may be void as it forms a “lower low” bearish pattern – while likely dropping below the 21-day average line.
