Lii Hen Industries is set for a strong uptrend after breaching the MYR0.95 immediate resistance yesterday – on the back of higher trading volume.
RHB Retail Research / Market Dateline in a note today (Dec 29) said ff the breakout sustains, the stock will likely advance towards the MYR1 mark, followed by the next resistance at MYR1.07, or the highest since 30 Mar 2021.
Conversely, a drop below the MYR0.92 support would invalidate the bullish setup, falling below the 21-day SMA line.
Salcon is eyeing for a potential uptrend reversal after bouncing off the 21-day SMA line and testing the MYR0.295 consolidation phase yesterday, on a stronger trading volume.
If a breakout occurs above that level, the stock may rebound strongly towards the MYR0.36 resistance, or the 52-week high, followed by the three-year high at MYR0.415.
On the flip side, a drop below the MYR0.25 support would indicate a potential downtrend, beneath the SMA line.
