Samaiden Group
Samaiden, according to RHB Research’s technical analysis report (October 3), is eyeing to propel higher as it recently retested the MYR0.76 immediate resistance above the 21-day average line – firming up the “higher low” bullish pattern. If the breakout happens – forming a fresh “higher high” bullish structure – the bulls may likely follow through to drive the stock higher towards the next resistance point of MYR0.815 (the high of 15 Feb), then the MYR0.90 threshold. However, the counter may reverse direction if it falls below the MYR0.715 support – moving downwards below the average line.
Tropicana Corporation
Tropicana is set to propel towards its 8-year high as it broke above the MYR1.19 immediate resistance on higher trading volume last Friday – bouncing off the 21-day SMA line while forming a “higher high” bullish structure. If the bulls persist, the stock may climb further towards the MYR1.31, which is the highest level printed since May 2014. The next resistance could be set at MYR1.40, or Jul 2013’s high. If it falls below the MYR1.13 support, the stock may see a reversal in momentum as it forms a “lower low” bearish pattern, below the average line.
