ILB Group is poised to resume its uptrend for a fresh 52-week high, as it bounced off the 21-day SMA line yesterday, testing MYR0.76, its 52-week high.
RHB Market Research in a note today (Dec 22) said if a breakout above that level occurs, the stock will likely advance towards the MYR0.88 resistance, followed by next resistance at MYR0.96.
Conversely, a drop below the MYR0.70 support would invalidate the bullish setup.
Ocean Vantage Holdings is currently consolidating laterally above the 21-day SMA line – it showed interest in surpassing the MYR0.24 mark during the intraday session yesterday.
In the event of a breakout, the sideways consolidation could transform to an upward trend, potentially advancing towards the MYR0.275 level, representing the 52-week high, followed by the immediate resistance at MYR0.31.
On the flip side, a drop below the MYR0.21 support would indicate a potential downtrend.
