Stock Picks with Momentum: Aemulus Holdings, YX Precious Metals

Aemulus Holdings

Aemulus, as cited in RHB Retail Research’s technical analysis report (Dec 15), is set to propel northwards as it staged a breakout above the recent high of MYR0.485 yesterday on surging trading volume – forming a “higher high” bullish structure. Note that the stock has rebounded strongly from its bottom since 23 Nov. The bullish bias above that level is likely to drive the stock higher towards the MYR0.535 resistance, followed by the MYR0.60 mark. Conversely, the stock may reverse direction if it falls below the MYR0.45 support, forming a “lower low” bearish structure.

YX Precious Metals

This counter is staging a breakout above the consolidation phase as it bounced off the 21-day average line and pushed past the MYR0.215 resistance level yesterday, thereby printing a “Bullish Breakaway Gap” on stronger trading volume. The surge in buying interest yesterday is likely to follow through in the coming sessions, and push the counter further towards MYR0.24 or 15 Sep’s high, followed by the MYR0.26 next resistance, which was 27 Jun’s high. The momentum may be reversed if it drops below MYR0.20 – forming a “lower low” bearish pattern, below the average line.

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