Hiap Teck Venture is set for a rebound as it surpassed the MYR0.33 immediate resistance yesterday on strong trading volume, supported by the rising 21-day SMA line.
RHB Retail Research, in a note today (July 26), said the stock is expected to propel towards the MYR0.365 YTD high, followed by the MYR0.40 next resistance.
Towards the downside, falling below the MYR0.30 support sets the stage for a downtrend.
JCY International is poised for a technical breakout, after it bounced off the 21-day SMA line to test the MYR0.19 immediate resistance level yesterday, coupled with surging trading volume.
If a breakout happens, the stock may climb higher towards the MYR0.225 YTD high, followed by the MYR0.29 next resistance.
Conversely, falling below the MYR0.16 support, forming a “lower low” bearish pattern below the SMA line, would dent sentiment and lead it to a downtrend.
