Aurelius Technologies is poised for a technical breakout, as it attempted to rebound from a recent pullback, while eyeing to break past the immediate resistance of MYR2.65.
RHB Retail Research said today (Sept 26) if a bullish breakout happens, the stock may climb upwards towards the 4- week high of MYR2.83, followed by the next resistance of MYR3.
Towards the downside, breaching below the MYR2.50 support will negate the bullish setup, as it would be trading below the 21-day SMA line.
Cloudpoint Technology is set to trend further north, after breaching above the MYR0.64 resistance yesterday, on higher trading volume.
Supported by the fresh “higher high” bullish pattern, the bullish momentum may propel the stock towards the historical high of MYR0.75, ie the highest point recorded during its debut. From there, the bulls may test next resistance at the MYR1 threshold.
Conversely, falling below the MYR0.58 support would signal a bearish reversal of this trend, as it would then form a “lower low” bearish pattern.