Innature
Cited by RHB Research’s technical analysis report (October 7), Innature is set to resume its uptrend as it bounced off the 21-day average line strongly to reclaim the area above the previous breakout level of MYR0.59 yesterday – supported by improved trading volume. Bullish momentum above that level may persist, and push the stock to the resistance level of MYR0.62, followed by MYR0.67. However, the counter may reverse direction if it falls below the MYR0.565 support – below the average line.
OCK Group
OCK may climb higher as it bounced-off and re-tested the MYR0.44 resistance on high volume – inching above the 21-day average line. If it crosses the resistance point, renewed buying interest may emerge to drive the stock towards MYR0.47, or 9 Dec’s high, before trending northwards further towards the MYR0.50 mark. If it falls below the MYR0.42 support, the stock may undergo a reversal, as it forms a “lower low” bearish pattern below the average line.
