Stocks with Momentum: EG Industries, Systech

EG Industries

This counter is looking to stage a bullish breakout to test the MYR0.545 immediate resistance on strong volume. According to RHB Retail Research, the volume has been increasing recently, showing that momentum is gathering speed. If a breakout happens, the momentum should propel the stock to the next resistance pegged at MYR0.60, followed by MYR0.635. In the event it retreats below the MYR0.505 support level, the bears will be in control.


Systech is poised to extend its upside movement after breaking past the MYR0.255 resistance. We observed that the stock has reclaimed the 21-day SMA line, and a bullish bias has emerged.
Should the positive price action follow through, the stock will test the next resistance levels at MYR0.295 and MYR0.32. On the flip side, a fall below the MYR0.23 support level would negate the bullish setup and set off a correction.

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