SMRT Holdings is set to resume its uptrend after experiencing a breakout above the MYR1.01 level on Friday, coupled with surging trading volume above the rising 21-day SMA line.
RHB Market Research in a note today (Dec 18) said if the breakout sustains, the stock is likely to advance towards the new high at the MYR1.10 mark before potentially reaching another new high at MYR1.20.
Conversely, a drop below the MYR0.90 support would invalidate the bullish setup.
APB Resources is set to propel northwards following a technical breakout above the MYR2.50 resistance on Friday, as evidenced by the “Bullish Marubozu” candlestick.
Supported by the significant increase in trading volume over the past two sessions, the bullish momentum is expected to propel the stock towards the MYR3 mark, with the next resistance at MYR3.30, near its all-time high.
Conversely, a decline below the MYR2.35 support would indicate a potential downtrend.
