Dayang Enterprise
This counter, according to RHB Research’s technical analysis report dated August 24, is poised to extend the upside movement, and may breach the immediate resistance of MYR1.05. The stock underwent a strong rebound yesterday and printed a “higher low” bullish pattern, which indicates that the bulls still have the technical advantage. If a bullish breakout happens, expect the positive momentum to lift the stock to MYR1.10 followed by MYR1.18. On the flip side, falling below the MYR1.00 support would nullify our expectation.
Master-Pack
Whilst Master-Pack surged past the MYR1.91 resistance on strong volume, and has set sights on the higher resistance point. The stock underwent a consolidation in the previous two sessions. The latest bullish breakout marks the completion of the
consolidation. As the momentum is picking up pace again, the stock should climb towards the next resistance of MYR2.10,
followed by MYR2.20. Towards the downside, the MYR1.80 level will act as a strong support now.
