JF Technology is set to resume its uptrend after rebounding from the 21-day SMA line, and breaching the MYR0.94 resistance yesterday on strong volume.
RHB Retail Research, said today (Sept 8) that if the breakout above that level is sustained, the stock may surge towards the resistance points of MYR1.05 then MYR1.15.
However, falling below the MYR0.87 support would indicate a downtrend, with a “lower low” bearish pattern being formed, while the stock trades below the SMA line.
Evergreen Fibreboard is set to undergo a technical rebound after crossing the MYR0.33 resistance level on a pick-up in trading volume.
This, coupled with a “higher high” bullish pattern, would see the stock continuing to rebound strongly towards the MYR0.37 resistance, followed by MYR0.41 or 30 Jan’s high.
A decline below the MYR0.31 support would dent sentiment on the counter, and spark a downtrend – as it would be trading below the 21-day SMA
