AWC is set to rebound higher as it bounced off the 21-day SMA line, surpassing the previous breakout at MYR0.505 yesterday, on the back of stronger trading volume.
RHB Retail Research, in a note today (Aug 1), said the latest bullish momentum may drive the stock towards the MYR0.53 resistance, followed by the MYR0.58 next resistance.
However, falling below the MYR0.485 support would indicate a trend reversal towards the downside, as it forms a “lower low” bearish pattern.
CCK Consolidated Holdings is set to resume its uptrend, as it climbed above the previous breakout at MYR0.725 yesterday, coupled with improved trading volume.
If the breakout sustains, the stock may climb higher towards the MYR0.76 resistance or YTD high, followed by the MYR0.80 mark.
Conversely, falling below the MYR0.69 support, below the 21-day SMA line, would dent sentiment and lead to a downtrend.
