LGMS
LGMS, according to RHB Retail Research’s technical analysis (Dec 5), is set to propel higher towards its historical high as it breached the immediate resistance of MYR1.31 last Thursday and pullback mildly on Friday – sustaining the “higher high” bullish pattern above the 21-day average line. If it stays above that level, the bullish bias would drive the stock further towards the historical high of MYR1.45, before possibly printing a new high of MYR1.50. Conversely, the stock may reverse direction if it falls below the MYR1.22 support, forming a “lower low” bearish structure beneath the average line.
CTOS Digital
This counter is poised to resume its uptrend above the 21-day average line as it attempted to surpass the the immediate resistance of MYR1.44 last Friday for two consecutive sessions
with strong trading volume. The strong bullish pressure is expected to re-emerge if it manages to push above the MYR1.44 level. With that, the bulls should head the stock towards the resistance point of MYR1.50 ie the 3-month high, followed by MYR1.60 or the high of 5 Apr. The momentum may reverse direction if it drops below MYR1.37 – forming a “lower low” bearish pattern, below the average line.
