Stock Picks Of The Day – Solarvest Holdings, Samaiden Group

Solarvest Holdings is set to trend upwards further, after
breaching above the immediate resistance of MYR1.36 on high trading volume – forming a white candlestick.

RHB Retail Research in a note today (Jan 5) said if it stays above that level, the bullish momentum may propel the stock towards the immediate resistance of MYR1.43, followed by MYR1.57.

However, if it falls below the MYR1.28 support – thereby forminga lower low – this expectation would be nullified.

Samaiden Group is in a position for an uptrend reversal, as it rebounded above the immediate resistance level of MYR1.15 on strong trading volume.

As it is riding above the 21-day SMA line amid the “higher high” bullish pattern, we expect a follow-through price action to test the next resistance of MYR1.22, followed by the recent high of MYR1.30.

Meanwhile, falling below the MYR1.10 psychological support would lead to its direction shifting downwards.

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