GFM Services is set for an uptrend rebound as it broke above the MYR0.225 level yesterday – printing a “Bullish Marubozu” candlestick with stronger trading volume.
RHB Retail Research stated riding on the renewed buying momentum above the 21-day average line, the stock is expected to retest the MYR0.245 immediate resistance, or 27 Dec 2022’s high, followed by the next resistance at MYR0.27 (2 Sep 2021’s high).
Conversely, the counter may reverse its direction if it falls beneath the MYR0.21 support, forming a “lower low” bearish structure below the average line.
Infomina is eyeing for a technical breakout as it bounced off the immediate support to test the MYR1.43 resistance and the 21- day average line. If a breakout above that level happens, the stock would then trade above the average line, rebounding strongly towards the MYR1.50, before reclaiming the all-timehigh at MYR1.55, i.e. 17 Jan’s high. However, the counter may move downwards if it drops below the MYR1.33 support, as it forms a “lower low” bearish pattern below the average line.
