Hartalega is poised to extend its upside movement, after surging past the immediate resistance.
RHB Retail Research said today (May 18) the latest breakout sees the stock charting a fresh “higher high”, reaffirming that the strong bullish momentum is underway.
The momentum should propel the stock towards the next resistance pegged at MYR2.50, followed by MYR2.70.
Meanwhile, if the stock falls below the MYR2.15 support, this will negate the bullish setup.
ITMAX System has staged a bullish breakout as the momentum is gaining pace again. RHB observed that the stock has managed to climb above the 21-day SMA line and trading volume has increased. The technical indicators show the momentum has turned bullish.
After breaching the MYR1.44 resistance, the stock should test the next resistance pegged at MYR1.50, followed by MYR1.57.
On the flipside, if the stock retreats below the MYR1.38 support, this will resume the downside correction.
