PT Resources is preparing to move high after it broke past the MYR0.50 resistance on strong volume.
RHB Retail Research, in a note today (June 30), said the stock has been charting a series of “higher highs” and “higher lows”, indicating that the bulls are at their strongest currently.
The stock should test the next resistance of MYR0.56, followed by MYR0.60.
Conversely, dropping below the MYR0.47 support will negate the bullish setup.
Edelteq has undergone a bullish breakout and may extend its uptrend.
After breaking past the MYR0.70 resistance, the stock charted a “higher high” closing price, showing that strong momentum is underway.
If this uptrend follows through, the stock may rise towards MYR0.75, then MYR0.80.
On the other hand, falling below the MYR0.66 support would kick off a bearish movement.
