Swift Haulage
This counter, as cited by RHB Retail Research’s technical analysis report (Jan 27), is poised for an upward rebound, after bouncing off the 21-day average line to hit the MYR0.50 threshold
yesterday on higher trading volume. If it manages to surpass this level, the bulls will drive the stock towards the recent high of MYR0.525 (12 Dec 2022’s high), followed by the next resistance level of MYR0.57 (12 Sep 2022’s high). Conversely, the counter may reverse its direction if it falls below the MYR0.475 support level to form a “lower low” bearish structure
below the average line.
Leform
Leform is set to propel towards its all-time-high after breaching above the MYR0.225 resistance level yesterday, forming a “higher high” bullish pattern. Riding on the bullish momentum
above the 21-day average line, the stock may propel towards the MYR0.25 historical high of 20 Dec 2022, before possibly printing a new high at MYR0.30. However, the counter may move downwards if it drops below the MYR0.21 support level, as it would be trading below the short-term average line to form a “lower low” bearish pattern.
