LGMS
LGMS, according to RHB Research’s technical analysis (October 21), is poised for an upward rebound as it bounced off the 21-day average line and attempted to surpass the MYR1.19 immediate resistance yesterday – forming a “higher low” bullish pattern above the average line. If a breakout happens above that resistance level, the bulls are expected to propel higher towards the recent high level at MYR1.30 or 13 Sep’s high, followed by the MYR1.45 historical high. However, the bullish reversal may lose steam if it falls below the MYR1.08 support, trading below the average line.
Econframe
This counter is eyeing to print a new high level as it attempted to surpass the MYR0.685 resistance yesterday – this was as it
recently bounced off the 21-day average line. If it manages to surpass that threshold, the stock may inch higher towards the
MYR0.75 mark and then the MYR0.80 point. If it falls below the MYR0.65 support, the bullish momentum will be reversed, as it forms a “lower low” bearish pattern beneath the average line.
