UWC
UWC is poised for a technical breakout as it bounced off the 21-day average line to close at the immediate resistance level of
MYR4.06. If it breaches above that level – forming a “higher high” bullish structure – a bullish bias could emerge to propel
the stock upwards towards MYR4.40 (21 Feb’s high), followed by MYR4.80 – 15 Feb’s high. However, the stock may reverse
direction if it falls below the MYR3.72 support – as it may form a “lower low” bearish pattern below the average line.
CTOS Digital
CTOS is set to propel towards the 5-month high after it underwent a breakout above the MYR1.46 resistance-turned-support yesterday – forming a “higher high” bullish pattern. Coupled with the “Bullish Marubozu” candlestick printed yesterday, the stock is prepared to climb towards MYR1.58, or 25 April’s high, before hitting April’s high of MYR1.63, ie the next resistance level. If it falls below the MYR1.40 support, the momentum may reverse direction as it forms a “lower low” bearish pattern and keens towards the 21-day average line.
