Solarvest Holdings is set to trend higher amid a breakout above the MYR1.40 resistance following a surge in trading volume yesterday – the stock charted a fresh 52-week high.
RHB Retail Research in a note today (Jan 31) said riding on the momentum, it should climb towards the MYR1.57 resistance, followed by the MYR1.70 level.
Towards the downside, a fall below theMYR1.34 supportwould invalidate the bullish setup, as the stock would be trading below the 21-day SMA line.
Ranhill Utilities is looking to resume its uptrend amid its recent sideways consolidation.
If it manages to rebound above the MYR1.19 immediate resistance level, the stock is likely to test the next resistance at MYR1.26 (the historical high), before possibly charting a new high of MYR1.40.
If the stock falls below the support level of MYR1.05, this would mark the beginning of a correction.
Perdana Petroleum has rebounded strongly above the 21-day SMA line for the past seven sessions. It tested the immediate resistance level of MYR0.27 yesterday.
If a breakout happens above this level, the bulls may drive the stock towards the 52-week high of MYR0.285 , followed by the next resistance level of MYR0.32.
On the flip side, a fall below the MYR0.25 supportlevel would negate the bullish setup.
SSF Home Group is attempting to stage a bullish breakout after touching the immediate resistance level of MYR0.315 on strong volume.
If it climbs above the immediate resistance level, a bullish bias should emerge.
In this case, the momentum would propel the counter towards MYR0.35, followed by MYR0.40.
Conversely, a fall below the MYR0.295 support would trigger downward movement.
