Stock Picks for Shares with Momentum: PT Resources Holdings, ECA Integrated Solution

PT Resources Holdings

This counter, as cited by RHB Retail Research’s technical analysis report (Feb 10), is set to propel towards printing a new high as it resumed its climb above the MYR0.60 resistance
yesterday on high trading volume – printing a “White Marubozu” bullish candlestick. The bullish bias above that level should drive the stock towards printing a new high at the MYR0.70 threshold, followed by the MYR0.80 mark. Conversely, the counter may reverse its direction if it falls below the MYR0.55 support, forming a “lower low” bearish structure below the 21-day
average line.

ECA Integrated Solution

ECA is set to resume its uptrend movement as it rebounded from the recent pullback yesterday, reclaiming above the MYR1 threshold – coupled with improved trading volume. The bulls above that level are expected to reclaim the historical high at MYR1.08 (27 Jan’s high), before propelling towards a new high at MYR1.20. However, the counter may move downwards if it drops below the MYR0.95 support, as it forms a “lower low” bearish pattern below the 21-day average line.

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