Stock Picks Of The Day – Pestech International, Ramssol Group

Pestech International is set to propel higher as it experienced a technical breakout above the MYR0.325 level, printing a “White Marubozu” bullish candlestick.

RHB Retail Research, in a note today (Oct 3) said, coupled with strong trading volume, the bullish momentum may drive the stock up towards the 52-week high of MYR0.365 before reclaiming the MYR0.40 mark.

Towards the downside, a breach below the MYR0.275 support will negate the bullish setup, as it would be below the 21-day SMA line.

Ramssol Group is set to climb higher after breaching above the MYR0.49 level yesterday on higher trading volume.

The bullish momentum above that level would drive the stock towards MYR0.545, or its 18-month high, followed by the next resistance at MYR0.605.

Conversely, a fall below the MYR0.445 support would signal a reversal of the positive trend, as it trades below the 21-day SMA line.

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