Itmax System is poised to rebound above the immediate resistance of MYR1.46, after testing the 21-day SMA line.
RHB Retail Research said today (June 28), a breakout above this level may signal an uptrend rebound, and the stock may climb towards MYR1.51, followed by MYR1.60.
However, if it drops below the support level of MYR1.40, it would invalidate the bullish pattern and likely trigger a potential shift towards a bearish trend.
SKP Resources is set to rebound higher after breaking above the immediate resistance of MYR1.12 yesterday, supported by the rising 21-day SMA line.
The “higher high” bullish pattern may life the stock higher towards the MYR1.20 mark, followed by MYR1.30.
However, if the stock price falls below the support of MYR1.05 – below the short-term SMA line – the momentum may reverse and shift the trend.
