Awanbiru Technology
Awanbiru, according to RHB Research’s technical analysis report (October 11), is poised to resume its uptrend, as it rebounded from a recent pullback while trying to cross the MYR0.48 resistance level last Friday – supported by improved trading volume. If a breakout happens above that level, the bulls may propel the stock to the resistance level of MYR0.52 or 18 Aug’s high, followed by MYR0.55 ie the high of 13 May. However, the counter may reverse direction if it falls below the MYR0.42 support, negating the previous breakout level.
Teladan Setia Group
This counter could rebound towards the YTD high as it bounced off the 21-day average line last week and attempted
to test the resistance of MYR1.10. If it crosses that point, renewed buying interest may emerge to drive the stock towards
the YTD high of MYR1.17, or 17 Aug’s high, before trending northwards further towards the MYR1.30 mark. If it falls below
the MYR1.02 support, the stock may undergo a reversal, as it forms a “lower low” bearish pattern below the average line.
