Stock Picks Of The Day – UEM Sunrise, Bahvest Resources

UEM Sunrise is eyeing to resume its rally, after rebounding from the recent pullback and testing the MYR0.51 resistance.

RHB Retail Research, in a note today (Aug 3), said if it manages to surpass that level, the stock may climb further towards the MYR0.555 next resistance, followed by the recent high at MYR0.59.

However, falling below the MYR0.44 support would indicate a trend reversal towards the downside, as it forms a “lower low” bearish pattern.

Bahvest Resources is poised to trend higher, as it rebounded from the support, heading towards the MYR0.335 immediate resistance.

If a breakout above that level happens, the bullish bias may drive the stock towards the MYR0.40 mark, followed by the MYR0.45 next resistance.

Conversely, falling below the MYR0.29 support, below the SMA line, would dent sentiment and lead to a downtrend.

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