Betamek
Betamek, according to RHB Retail Research’s technical analysis (Dec 13) is poised for an uptrend reversal as it bounced off the 21-day average line and was headed for the MYR0.535 immediate resistance level yesterday, while trading intensified. If it breaches that point, the bullish bias above that level may push the stock higher towards the MYR0.61 resistance – the highest level since 31 Oct’s, followed by MYR0.755 or 27 Oct’s high. Conversely, the stock may reverse direction towards the average line if it falls below the MYR0.47 support, forming a “lower low” bearish structure beneath the average line.
Citaglobal
This counter is eyeing to a further rebound, as it bounced off the 21-day SMA line and hit the immediate resistance level of MYR0.27 yesterday – backed by stronger trading volume. If a
breakout above that level happens, the stock may propel north towards the MYR0.285 resistance, then the 1-month high level of MYR0.31 (recorded on 8 Nov). The momentum may be reversed if it drops below MYR0.25 – forming a “lower low” bearish pattern, below the average line.
