CEKD
This counter, as cited in RHB Retail Research’s technical analysis report (Feb 8), is poised to resume its uptrend reversal as it attempted to move past the MYR0.60 threshold yesterday on improved volume. If it manages to break above that resistance, the bullish bias would drive the stock towards hitting the next resistance of MYR0.625, before propelling towards MYR0.665, ie 13 Sep’s high. Conversely, the counter may reverse its direction if it falls below the MYR0.575 support, forming a “lower low” bearish structure.
Ocean Vantage Holdings
Ocean Vantage is expected to resume its uptrend rebound from the recent pullback amid a decline in volume during the recent profit taking. Note that the stock had climbed above the 21-day average line and broke past the MYR0.165 level on 27 Jan before climbing higher towards the MYR0.19 immediate resistance. Amid the latest “higher low” bullish structure, bullish momentum above the breakout level would resume to retest the immediate resistance, before possibly hitting the MYR0.20 threshold. However, the counter may move downwards if it drops below the MYR0.15 support, forming a “lower low” bearish pattern as it trades below the average line.
