Stock Picks of the Day: Coraza Integrated Technology, Ancom Nylex

Coraza Integrated Technology

Coraza is poised to resume the uptrend after it rebounded strongly above the 21-day average line yesterday, while heading towards the immediate resistance of MYR0.845. If a breakout happens above that level, the bullish bias may propel it further towards the MYR0.895 point (13 Sep’s high), followed by MYR0.975 or 7 Feb’s high. However, the counter may reverse direction if it falls below the MYR0.77 support – trading below the average line while forming a “lower low” bearish structure.

Ancom Nylex

Ancom Nylex is set to propel higher as it bounced off the support to reclaim the area above the previous breakout point
of MYR0.97 yesterday – firming up the bullish bias above the breakout point. Bullish bias above that level may drive the
counter north further, towards 17 Aug’s high of MYR1.02, followed by MYR1.09 or 2 Aug’s high. If it falls below the
MYR0.90 support, the momentum may reverse direction, as it forms a “lower low” bearish pattern below the average line.

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