Axiata is eyeing a bullish breakout after testing the immediate resistance level.
RHB Retail Research in a note today (Feb 13) said the stock has been moving sideways below the MYR2.77 resistance for consolidation.
If a breakout occurs, the stock will resume its upside movement towards MYR2.93, followed by MYR3.10.
On the other hand, a fall below the MYR2.62 support would kick off downward movement.
Kerjaya Prospek is poised to extend its upside movement after breaking past the key resistance level with high volume.
They observed that the counter climbed above the MYR1.73 resistance to chart a fresh “higher high” bullish candlestick.
As the bullish momentum picks up, the stock should travel towards MYR1.88, followed by MYR2.
The correction phase will be resumed if it falls below the MYR1.64 support.
Poh Huat Resources is looking to extend its bullish trajectory after breaking past the key resistance level.
The stock has climbed above the MYR1.40 resistance, confirming that the consolidation phase is complete.
After the breakout, momentum has picked up, and is propelling the stock towards the next resistance levels at MYR1.48, followed by MYR1.55.
However, a fall below the MYR1.35 support would negate the bullish setup.
TAS Offshore has a fresh leg on the upside after staging a bullish breakout.
The counter has climbed above the MYR0.61 resistance, confirming the end of the consolidation phase.
Trading volume has been increasing, showing that bullish momentum is picking up pace.
Riding on the momentum, the bulls are looking to test the MYR0.68 level, followed by MYR0.75.
If the stock falls below the MYR0.51 support level, this would invalidate the bullish structure.
