Carimin Petroleum is eyeing to extend the upside movement, after it staging a breakout on the back of high volume.
RHB Retail Research said today (June 26) that the stock breached the MYR0.72 resistance and charted a “higher high” bullish candlestick.
Meanwhile, trading volume has increased in tandem with the share price, showing strong momentum is in play.
Riding on this momentum, the stock should rise towards MYR0.78, followed by MYR0.835.
On the flipside, falling below the MYR0.695 support will negate the bullish setup.
Gamuda is gaining bullish momentum after breaking past the resistance on high volume.
RHB observed that the stock is trading at a multi-month high after it climbed above the MYR4.44 resistance.
The momentum is getting stronger as evidenced by the increasing volume.
Premised on this, the stock is eyeing to test the next resistance pegged at MYR4.60, followed by MYR4.80.
Towards the downside, falling below the MYR4.20 support would invalidate the bullish structure.
