PT Resources Holdings
PT Resources , as cited in RHB Research’s technical analysis report, is looking to stage a bullish breakout to extend the upside movement and test the MYR0.43 immediate resistance. We observed the stock has been moving sideways for consolidation in the past two sessions. If breakout happens, we expect strong positive price action to follow through. The stock may climb towards the next resistance pegged at MYR0.47 and followed by MYR0.50. On the downside, a breach of the MYR0.395 support would negate the positive expectation.
Orgabio Holdings
This counter is in the process of rebounding above the 21-day average line, as it managed to reclaim the level above this line recently – forming a “higher low” bullish pattern above its support level. If it moves past the MYR0.30 threshold in the coming sessions, we expect the stock to continue its positive rebound towards the MYR0.32 resistance or 28 Oct’s high, followed by the next resistance level at MYR0.34 (30 Sep’s high). Momentum may reverse if it drops below the MYR0.285 strong support level, forming a “lower low” bearish structure below the average line.
