D&O Green Technologies
This counter attempted to extend its upward trajectory after breaking past the immediate resistance of MYR4.16 last Friday, according to RHB Research’s technical analysis report (dated August 22). The latest bullish breakout indicates that the stock has completed the consolidation phase and set off the uptrend. The bullish momentum should lift it towards the subsequent resistance levels of MYR4.40, followed by MYR4.60. Towards the downside, breaching the MYR3.95 support level would indicate that the bearish bias has emerged.
Scope Industries
While Scope Industries may stage a bullish breakout, as it grazed the immediate resistance of RM0.19 yesterday. As the stock is trading above the 21-day SMA line, a bullish bias has emerged. If the breakout happens, the stock should travel towards the next resistance of MYR0.21, followed by MYR0.23. On the flip side, falling below the MYR0.16 support would indicate that the correction phase has resumed.
