Hartalega is eyeing to stage a bullish breakout, extending the positive movement.
RHB Retail Research said today (May 24), the stock has charted a Bullish Marubozu on 18 May, showing that strong momentum is underway.
If it breaks past the MYR2.70 resistance, this will further strengthen the bullish setup. In this case, the momentum is set to drive the stock towards the MYR3 mark, followed by MYR3.25.
Conversely, breaching below the MYR2.30 support will signify the beginning of a bearish structure.
Berjaya Food is seen poised to stage a technical rebound since selling pressure tapered.
RHB observed that trading volume has decreased, suggesting selling pressure is easing.
Meanwhile, the stock charted a bullish candlestick, eyeing to test the MYR0.65 resistance. If a breakout happens, expect an upward rebound to test the next resistance pegged at MYR0.68, followed by MYR0.72.
Conversely, breaching below the MYR0.61 support should resume the downside correction.
