Dayang Enterprise Holdings
Dayang, according to the technical analysis by RHB Retail Research (Jan 12), is set to propel beyond its 52-week high after it broke above the MYR1.36 yesterday on significant trading volume – printing a “White Marubozu” bullish candlestick and forming a “higher high” bullish pattern. The bullish bias above that breakout level should lift the stock towards MYR1.50,
ie near the 10 May 2021’s high, followed by the next threshold at MYR1.60. Conversely, the counter may reverse its direction if it falls below the MYR1.28 support, forming a “lower low”
bearish structure below the 21-day average line.
AYS Ventures
AYS Ventures is set to rebound higher as it climbed and successfully surpassed the MYR0.45 resistance yesterday – coupled with surging trading volume. Riding on the fresh “higher high” bullish pattern, the stock may climb towards the 2-month high of MYR0.49 – 16 Nov 2022’s high – before reclaiming the MYR0.52 resistance (recorded on 23 May 2022). However, the
counter may move downwards if it drops below the MYR0.425 support, as it trades below the 21-day average line while forming a “lower low” bearish pattern.
