MBM Resources has staged a bullish breakout, and is poised to extend its bullish trajectory.
RHB Retail Research Market Dateline said today (Nov 8) they observed that the stock has been consolidating sideways below the MYR4 threshold.
On Monday, the stock managed to break past the MYR4 resistance, indicating that bullish momentum is gaining pace. Riding on the renewed momentum, the stock should travel towards MYR4.20, followed by MYR4.40.
On the downside, a fall below the MYR3.75 support would kick off a correction phase.
Cnergenz is looking to extend its technical rebound after breaking past the resistance on strong volume.
RHB observed that the stock has surged above the MYR0.665 resistance, charting a bullish candlestick.
Meanwhile, trading volume has been increasing, showing that strong momentum is underway.
The stock may set its sights on the next resistance pegged at MYR0.73, followed by MYR0.77.
On the other hand, a fall below the MYR0.615 support would negate the bullish setup.
