Kelington Group
Kelington, according to RHB Research’s technical analysis (September 15) is set to trend north as it rebounded strongly from the intraday low yesterday to reclaim the area above the immediate resistance of MYR1.41– firming up its “higher high” bullish structure above the 21-day average line. If the breakout is sustained, the bulls mayt push it further towards the MYR1.50 point (17 Feb’s high), followed by MYR1.59 i.e. the high of 10 Feb. However, the counter may reverse direction if it falls below the MYR1.34 support, as it is trading below the average line while forming a “lower low” bearish structure.
Dayang Enterprise Holdings
The counter is set to resume its uptrend as it rebounded strongly from the intraday low yesterday to close above the MYR1.11 resistance level with a “White Marubozu” bullish candlestick. Bullish bias above that level may drive the counter north further, towards the recent high of MYR1.16, followed by MYR1.20 or 22 Jul’s high. If it falls below the MYR1.02 support, the momentum may reverse direction, as it forms a “lower low” bearish pattern below the average line.
