Bermaz Auto is poised for a technical breakout as it bounced off the 21-day SMA line and headed towards the MYR2.55 immediate resistance.
RHB Retail Research in a note today (Feb 14) said if a breakout above that level happens, the bullish bias may see the stock climb towards the MYR2.75
immediate resistance, followed by the MYR3 mark.
However, a fall below the MYR2.36 support would potentially signal a downtrend.
Bumi Armada is attempting for a technical rebound it bounced off the immediate support, testing the immediate resistance at MYR0.55.
If it manages to surpass that level, the stock may
rebound higher towards the MYR0.585 resistance (highest level since 29 Sep 2023), followed by the next resistance at MYR0.63.
If the price falls below the MYR0.525 support, it would signal the beginning of a correction.
UEM Sunrise is currently experiencing a sideways consolidation, with an upside potential in the coming sessions as it attempted to rebound towards the MYR1.07 immediate resistance recently.
A breakout above this level could signal increased buying pressure, potentially lifting the stock towards the recent high at MYR1.16, followed by the next resistance at MYR1.26.
Conversely, a decline below the MYR0.95 support would negate the bullish setup.
Ekovest’s recent pullback appears to have ended, as it
rebounded strongly from the critical support yesterday.
If this rebound continues and leads to a breakout above the MYR0.55 immediate resistance, it may confirm an uptrend reversal, potentially propelling the stock higher towards the MYR0.60 mark, followed by the 52-week high at MYR0.62.
However, a decline below the MYR0.51 support would trigger a downward movement.
