Samaiden is eyeing to extend its parabolic movement, after breaching the MYR1.25 resistance with high volume.
RHB Retail Research, in a note today (July 31), said after climbing above the resistance level, the stock is trading at its multi-year high now.
The volume has been increasing in tandem with the share price – showing that strong bullish momentum is underway. Expect a follow-through of the momentum lifting the stock into uncharted territories of MYR1.38 and MYR1.50.
On the downside, falling below the MYR1.13 support will kick off the correction phase.
OCK is attempting to stage a bullish breakout by testing the immediate resistance with strong volume.
The stock has been moving sideways on consolidation. If it manages to break past the MYR0.415 resistance, bullish bias will emerge.
The momentum would propel the stock towards the next resistance pegged at MYR0.43, followed by MYR0.45.
On the other hand, falling below the MYR0.39 support will negate the bullish expectation.
