LGMS
The cyber security services provider is looking to climb higher after staging a bullish breakout, according to RHB Research’s technical analysis report (August 26). It is noticed that the stock managed to break past the MYR1.11 immediate resistance level to close at a record high level. Amidst bullish momentum, the stock should continue charting “higher high” patterns, heading towards MYR1.18, followed by MYR1.25. On the downside, a breach below the MYR1.00 support level would nullify our expectation.
MMS Ventures
This counter is poised to extend its upside movement. It is observed that the stock has broken past the MYR0.845 resistance level on strong volume. The latest bullish breakout showed that the bulls remain in control. The positive momentum should propel it towards the next resistance pegged at MYR0.90, followed by MYR0.95. On the flip side, a fall below the MYR0.80 support level would signify that the correction phase has started.
