Stock Picks Of The Day – DXN Holdings, Nationgate Holdings, Petra Energy, P.A. Resources

DXN Holdings is set to resume its uptrend reversal after bouncing off the MYR0.68 previous breakout level on strong volume.

RHB Retail Research in a note today (Jan 12) said backed by “higher low” and “higher high” bullish patterns, the stock may climb towards the MYR0.72 resistance, followed by the next resistance at MYR0.75.

However, if it falls below the MYR0.635 support – forming a “lower low” – thisexpectation will be nullified.

Nationgate Holdings is eyeing a technical breakout as it bounced off the 21-day SMA line yesterday – heading towards the MYR1.57 immediate resistance.

If a breakout happens above that level, the stock may travel higher towards the MYR1.63 resistance, followed by the MYR1.77 all-time high.

Meanwhile, falling below the MYR1.47 support would see adirection shift to downwards.

Petra Energy is expected to propel higher after climbing above both the MYR0.99 immediate resistance on strong trading volume, and the rising 21-day SMA line.

If it remains above that level, the positive momentum may take the stock towards the MYR1.08 recent high, before rising towards the MYR1.13 next resistance.

In the event it falls below the MYR0.94 support, this expectation would be cancelled.

P.A. Resources is set to continue its uptrend reversal after breaching above the MYR0.295 immediate resistance, backed by surging trading volume.

If the breakout sustains, the stock should climb higher towards the MYR0.32 immediate resistance, and then the MYR0.35 next resistance.

However, falling below the MYR0.265 support – forming a “lower low” bearish pattern – may trigger a downtrend.

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