YX Precious Metals
YXPM, according to RHB Retail Research’s technical analysis report (Jan 10), is set to propel towards its historical high after it reclaimed above the MYR0.27 resistance level yesterday –coupled with strong trading volume. The bullish bias above that level is expected to drive the stock towards hitting the MYR0.305 all-time-high printed on 23 Jun 2022, ie the first day of its listing. This is followed by a possible new high at the MYR0.35 mark. Conversely, the counter may reverse its direction if it falls below the MYR0.255 support, forming a “lower low” bearish structure below the average line.
Leform
Leform is in the midst of rebounding from its sideways consolidation phase as it bounced off the immediate support to re-test the MYR0.225 immediate resistance level yesterday. If it manages to surpass above that consolidation phase, the stock may climb higher towards MYR0.24 – 21 Dec 2022’s high – before reclaiming the historical high at MYR0.26 level, ie 20 Dec 2022’s high. However, the counter may move downwards if it drops below the MYR0.205 support, forming a “lower low” bearish pattern below the 21-day average line.
