Cengild Medical
According to RHB Research’s technical analysis report (October 31), this counter is set to resume its rebound as it climbed and surpassed the immediate resistance of MYR0.485, forming a “higher high” bullish pattern last Friday. If it manages to stay above that level, the bulls should push the stock towards the next resistance of MYR0.55 ie 15 Sep’s high, followed by the historical high of MYR0.58. However, the bullish reversal may lose steam if it falls below the MYR0.455 support, heading south below the 21-day average line.
Samaiden Group
Samaiden may be set for a rebound, as it inched up and attempted to reclaim the territory above the MYR0.785 level last Friday on improved trading volume. If it manages to surpass that level, the stock may inch higher towards the recent high of MYR0.845, followed by the MYR0.90 threshold. If it falls below the MYR0.745 support, the bullish momentum would be reversed, as it forms a “lower low” bearish pattern beneath the 21-day average line
