Ramssol Group is eyeing to rebound from its recent pullback as it bounced off the 21-day average line and headed towards the MYR0.45 immediate resistance. If a breakout above that level happens, the stock may resume its uptrend towards reclaiming the recent high of MYR0.475, ie 19 Dec’s high.
RHB Retail research stated this is followed by MYR0.52, which was the highest level since 12 Sep. Conversely, the counter may reverse its direction if it falls below the MYR0.42 support, forming a “lower low” bearish structure below the average line.
The Research house also said IHH Healthcare is set for a strong technical rebound as it broke off the 2-month high of MYR6.10 recently and bounced off stronger yesterday – printing a “higher high” bullish structure.
A bullish bias above that level may bring the stock higher towards MYR6.57 – 17 Aug’s high – before propelling upwards towards MYR6.76 or 18 May’s high.
However, the counter may move downwards if it drops below the MYR6 mark, heading to print below the 21-day average line.
