Infoline Tech Group
According to RHB Research’s technical analysis report dated September 1, the bullish momentum reared up and propelled Infoline Tec Group past the immediate resistance of MYR0.385. The stock printed a fresh “higher high” bullish candlestick, showing that sentiment has turned positive. Riding on the momentum, it should climb towards MYR0.42, followed by MYR0.45. On the other hand, falling below the MYR0.355 support or the 21-day SMA line would negate the positive expectation.
Pappajack
This counter has staged a bullish breakout, and may resume its uptrend. Note that the stock broke past the immediate
resistance of MYR0.49 on high volume. Since strong buying interest has emerged, the stock should continue trending up
and charting “higher highs”. The bulls may set their sights to test the next resistance pegged at MYR0.515, followed by
MYR0.55. On the flip side, breaching below the MYR0.455 support would set off a downside correction.
