Taliworks Corporation is set to resume its uptrend after experiencing a technical breakout above the MYR0.875 immediate resistance, supported by strong trading volume.
RHB Retail Research in a note today (Feb 7) said if the breakout above this level sustains, the stock may trend higher towards the MYR0.96 mark, followed by the MYR1 threshold.
However, a fall below the MYR0.835 support level would invalidate the bullish setup, as the stock would be trading below the 21-day SMA line.
TMC Life Sciences is set for an uptrend continuation after bouncing off the 21-day SMA line and breaking above the MYR0.75 immediate resistance on higher trading volume.
Coupled with a “White Marubozu” bullish candlestick, the bulls are likely to propel the stock towards the MYR0.80 resistance level, followed by the next resistance at MYR0.90.
If the price falls below the MYR0.69 support level, it would signal the beginning of a correction.
Samchem Holdings is set for a bullish rebound following the recent pullback after bouncing off the immediate support level while breaking past the MYR0.625 immediate resistance – forming a “Bullish Marubozu” candlestick.
The buying pressure above the breakout level may propel the stock towards the recent high of MYR0.68, followed by the next resistance at MYR0.72.
On the flip side, a fall below the MYR0.585 support level would negate the bullish setup.
Dayang Enterprise Holdings is likely to resume its uptrend after rebounding from the recent pullback and sustaining its position above the MYR1.94 recent breakout level.
If the bullish momentum persists, the stock may trend higher towards the recent high of MYR2.16, followed by the MYR2.50 threshold.
Conversely, a fall below the MYR1.83 support would trigger downward movement.
