SFP Tech Holdings is poised for an uptrend reversal, as it bounced off the 21-day SMA line and tested the strong resistance point of MYR1.02 yesterday as trading volume surged.
RHB Retail Research Market Dateline said today (Dec 13) that pending a breakout above that level, the stock may propel higher towards the MYR1.10 mark, before possibly testing the all-time-high of MYR1.19.
On the other hand, falling below the MYR0.93 support will negate the bullish setup.
Ranhill Utilities is in the midst of a technical rebound as it trended upwards for three consecutive sessions and tested the MYR0.90 resistance recently.
If a breakout above that level happens, the stock may climb towards the recent high of MYR0.98, followed by the next resistance of MYR1.10 – the highest level since 18 Sep 2019.
On the other hand, falling below the MYR0.83 support would lead to a downtrend.
