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.
