Stock Picks for Shares with Momentum: Aemulus Holdings, SP Setia

Aemulus Holdings

As cited the RHB Retail Research’s technical anlysis’s report (Jan 13), Aemulus is set to reclaim its recent high after it bounced off the 21-day average line and broke above the MYR0.505 level yesterday – coupled with significant trading volume, which helped to form a “higher high” bullish pattern. The bullish structure above average line should push the stock towards 21 Dec 2022’s high of MYR0.535, followed by MYR0.59 – 16 Aug 2022’s high. Conversely, the counter may reverse its direction if it falls below the MYR0.48 support, forming a “lower low” bearish structure below the average line.

SP Setia

SP Setia is set to rebound higher, as strong buying interest emerged yesterday to push the stock above the 21-day average line and the immediate resistance of MYR0.64. Riding on the fresh “higher high” bullish pattern, the stock may surge towards the MYR0.70 mark, followed the MYR0.75 threshold, ie 6 Dec 2022’s high. However, the counter may move downwards if it drops below the MYR0.60 support, as it trades below the short-term average line while forming a “lower low” bearish pattern.

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