Careplus Group is in the midst of resuming its uptrend from the recent pullback as it rebounded and consolidated above the rising 21-day SMA line recently, with an eye towards the MYR0.455 immediate resistance.
RHB Retail Research in a note today (Jan 9) said if a breakout above that level happens, the stock may climb higher towards the recent high of MYR0.51, followed by the next resistance at MYR0.55, or the 2-year high.
However, if it falls below the MYR0.41 support – forming a lower low – this expectation will be cancelled.
Supermax Corporation is in a position for an uptrend reversal, as it rebounded above the 21-day SMA line while reclaiming above the MYR1 mark recently.
Supported by high trading volume, we expect a follow-through price action to test the next resistance of the recent high at MYR1.07, followed by the 2-year high of MYR1.20.
Meanwhile, falling below the MYR0.93 support would see the direction shift downwards.
JCY International is expected to propel higher after it climbed above the MYR0.235 immediate resistance on strong trading volume – printing a “White Marubozu” bullish candlestick.
If it manages to stay above that level, the positive momentum may accelerate towards the immediate resistance of MYR0.28, followed by the next resistance at MYR0.325.
In the event it falls below the MYR0.21 support, this expectation would be cancelled.
Gabungan AQRS is signalling the resumption of an uptrend reversal after rebounding strongly above the MYR0.35 immediate resistance level, banking on strong trading volume.
The uptrend rebound is likely to persists, eyeing towards the MYR0.40 mark before reaching the next resistance at MYR0.47, or its 2-year high.
However, falling below the MYR0.325 support – forming a “lower low” bearish pattern – may trigger a downtrend.
