Stock Picks for Shares with Momentum: TT Vision Holdings, Kotra Industries

TT Vision Holdings

As cited by RHB Retail Research, this counter is poised for an uptrend reversal as it bounced off the immediate support to hit the MYR1.28 immediate resistance yesterday – backed by stronger trading volume. If it manages to break above that resistance, the bullish bias would drive the stock towards hitting the next resistance of MYR1.36, before propelling towards its all-time high of MYR1.70, ie 18 Jan’s high. Conversely, the counter may reverse its direction if it falls below the MYR1.20 support, forming a “lower low” bearish structure.

Kotra Industries

Kotra is set for a positive rebound as it crossed above the 21-day average line and also the MYR6.10 resistance yesterday – printing a “White Marubozu” bullish candlestick. The “higher high” bullish pattern formed yesterday indicates that the stock is ready to climb higher towards hitting the MYR6.40 immediate resistance, followed by the next resistance at MYR6.78, ie 27 Dec 2022’s high. However, the counter may move downwards if it drops below the MYR5.85 support, as it forms a “lower low” bearish pattern amid trading below the average line.

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