Investment Ideas: Stock Picks – Astro Malaysia, Hartalega

Astro Malaysia is resuming its upward movement after breaking past the MYR0.73 immediate resistance on strong volume.

RHB Retail Research said today (March 20) the stock underwent a consolidation previously and managed to bounce off the immediate support.

Amidst the renewed momentum, the bulls are eyeing to test MYR0.79, followed by the MYR0.85 mark.

Conversely, retracing below the MYR0.65 support would nullify the positive expectation.

Hartalega is also poised to extend its upside movement, after breaking past the immediate resistance on high trading volume.

Observe that the stock has been charting “higher highs” on strong volume, indicating a strong bullish momentum is underway.

After it breaks past the MYR1.76 resistance, it may travel upwards to test the next resistance at MYR2, followed by the MYR2.17 level.

Towards the downside, falling below the MYR1.55 support would negate the bullish setup.

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