Edelteq is eyeing to extend the technical rebound after climbing above the 21-day SMA line.
RHB Retail Research Market Dateline today (Nov 7) said they observed that since falling below the 21-day SMA line, the stock has been undergoing correction.
Recently, it charted a Bullish Marubozu and broke past the MYR0.375 resistance, showing strong bullish momentum is underway.
The stock should test the next resistance at MYR0.43, followed by MYR0.475. On the other hand, falling below the MYR0.315 support will revert it to the bearish phase.
PIE Industrial is poised to extend its upside movement after breaking past the resistance on high volume.
The stock has climbed above the MYR3.15 resistance and charted a fresh “higher high”, suggesting the bullish momentum is gaining pace.
The momentum would propel the stock towards the next resistance pegged at MYR3.30, followed by MYR3.50.
Conversely, falling below the MYR2.95 support will negate the bullish setup.
