Public Bank is eyeing to extend its bullish movement after breaking past a key resistance.
RHB Retail Research in a note today (Feb 5) said the stock is trading at a multi-month high after it broke past the MYR4.40 resistance.
The 21-day SMA line is pointing upwards, showing that the short-term trend is bullish.
As such, expect another leg on the upside to test
MYR4.60, followed byMYR4.80.
On the flipside, falling below the MYR4.25 support will negate the positive expectation.
MNRB is poised to extend the upside movement as the bullish momentum is accelerating.
The stock has climbed above the MYR1.36 resistance and strengthened the bullish setup.
Meanwhile, we observe trading volume has been increasing in tandem with the share price, showing that the strong bullish momentum is underway.
The momentum should propel the stock towards MYR1.48, followed by MYR1.60.
In the event it falls below the MYR1.27 support, this would negate the bullish setup.
T7 Global has staged a bullish breakout and is poised to extend the upside movement.
The counter has move past the MYR0.465 resistance on strong volume, confirming the bullish setup.
Riding on the renewed momentum, the counter should scale towards the next resistance at MYR0.50, followed by MYR0.53.
Towards the downside, falling below the MYR0.43 support will open the door to a bearish phase.
Malakoff is undergoing consolidation, and is attempting to stage a bullish breakout.
We observe that the stock has been moving horizontally below the MYR0.675 resistance.
However, trading volume has increased recently, with the bullish momentum picking up pace.
If bullish breakout happens, the stock may climb towards MYR0.70, followed by MYR0.73.
Conversely, breaching below the MYR0.63 support would kick off the downward movement.
