Stock Picks Of The Day – Poh Kong Holdings, Nylex

Poh Kong Holdings is set for an uptrend reversal as it rebounded strongly yesterday – crossing above the 21-day SMA line and breaching the MYR0.845 immediate resistance.

RHB Retail Research, in a note today (July 12), said the “White Marubozu” bullish candlestick formed yesterday indicates the bullish bias would see the stock trend higher towards MYR0.90, followed by MYR1.

If it drops below the MYR0.81 support, this would indicate a bearish trend.

Nylex is set for an uptrend rebound after rebounding from the 21-day SMA line and breaching above the MYR0.455 resistance yesterday.

The increased trading volume supports the positive outlook.

The stock may head for the MYR0.545 and MYR0.60 resistance levels.

If it drops below the MYR0.405 support, this would trigger a bearish movement.

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