Stock Picks Of The Day – SDS Group, Melewar Industrial

SDS Group is set to propel northwards, as it broke above the MYR0.685 previous resistance on Monday while maintaining its positive stance yesterday – this firmed up the uptrend movement above the rising 21-day SMA line.

RHB Retail Research Market Dateline said today (Dec 6)that the latest bullish momentum may propel the stock towards the next resistance of MYR0.765, followed by MYR0.81.

On the other hand, falling below the MYR0.64 support will negate the bullish setup.

Melewar Industrial may rebound further after rebounding above the 21-day SMA line while testing the MYR0.275 immediate resistance.

If a breakout above that level happens, the bullish reversal pattern may drive the stock towards MYR0.295, followed by the next resistance of MYR0.31.

On the other hand, falling below the MYR0.255 support would lead to a resumption of the bearish phase.

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