UmediC Group
UmediC, according to RHB Research’s technical analysis report dated August 29, is eyeing a bullish breakout, after testing the immediate resistance level of MYR0.56. The stock charted a “higher high” bullish candlestick, showing that momentum is picking up pace. If a breakout happens, it should climb towards MYR0.59, followed by MYR0.625. On the downside, a fall below the MYR0.515 support level would indicate that a bearish bias has emerged.
PA Resources
This counter is attempting to break past the immediate resistance after building a strong base along the 21-day SMA line. It is observed that since the stock crossed above the 21- day SMA line, volume has been increasing – showing that a bullish bias has emerged. If it breaks past the MYR0.295 resistance, the stock may attract further buying pressure to lift it towards MYR0.31, followed by MYR0.33. However, a fall below the MYR0.27 support would negate the research house’s expectation.
