Stock Picks Of The Day – YX Precious Metals, Agmo Holdings

YX Precious Metals is set for a positive rebound after it bounced off the 21-day SMA line, surpassing the MYR0.265 resistance level yesterday, on higher trading volume.

RHB Retail Research, in a note today (July 14), said bullish bias above the breakout level would see the counter travel towards MYR0.29, followed by the MYR0.335 resistance point.

Towards the downside, falling below the MYR0.25 support would indicate a reversal of the trend to a downtrend.

Agmo Holdings is set for a bullish reversal, as it rebounded above the 21-day SMA line and pushed above the MYR0.59 resistance level, with significant trading volume.

Riding the fresh “higher high” bullish pattern, the counter should test the next resistance points pegged at MYR0.635 (14 Jun’s high) and MYR0.68 (14 Apr’s high).

Conversely, falling below the MYR0.55 support would dent sentiment and lead it below the SMA line.

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