Stock Picks Of The Day — CTOS Digital, Datasonic Group, Scicom, Southern Cable Group

CTOS Digital is set for an uptrend reversal after experiencing a technical breakout above the MYR1.47 immediate resistance, supported by strong trading volume.

RHB Retail Research in a note today (Feb 6) said if the breakout above this level sustains, the stock may trend higher towards the MYR1.56 resistance level, followed by the next one at MYR1.76.

However, a fall below the MYR1.38 support level would invalidate the bullish setup, as the stock would be trading below the 21-day SMA line.

Datasonic Group is poised for an uptrend rebound after
bouncing off the 21-day SMA line and testing the MYR0.46 immediate resistance level on higher trading volume.

If a breakout occurs above this level, the bulls are likely to propel the stock towards the MYR0.50 resistance level, followed by the next one at MYR0.55.

If the price falls below the support level at MYR0.435, it would signal the beginning of a correction.

Scicom is poised to resume its uptrend movement after bouncing off the immediate support level while attempting to surpass the MYR1.12 immediate resistance level.

Pending a breakout above this resistance, the buying pressure may propel the stock towards the recent high of MYR1.17, followed by the next resistance at MYR1.25.

On the flip side, a fall below the MYR1.08 support level would negate the bullish setup.

Southern Cable Group is likely to resume its uptrend after it rebounded from the recent pullback and reclaimed the level above the MYR0.42 immediate resistance.

If it manages to sustain above this level, the stock may trend higher towards the recent high of MYR0.45, followed by the historical high of MYR0.49.

Conversely, a fall below the MYR0.38 support would trigger downward movement.

Previous articleWall Street Falls From Its All-time High As Cuts To Rates Look Further Off
Next articleHang Seng Index Futures: Bearish Structure Remains Intact

LEAVE A REPLY

Please enter your comment!
Please enter your name here