Mah Sing Group is poised for a technical breakout as it has been consolidating above the 21-day SMA line recently, eyeing to test the MYR0.95 immediate resistance.
If a breakout above that level happens, the momentum may propel the stock higher towards the MYR1 mark, followed by the MYR1.11 next resistance level.
However, a fall below the MYR0.90 support would potentially signal a downtrend.
Master Tec Group is firming up its uptrend after experiencing a technical rebound above the MYR0.40 immediate resistance yesterday – forming a “Bullish Maruzbozu” candlestick.
If it manages to sustain above that level, the stock may rebound higher towards MYR0.45, before possibly reaching the MYR0.50 mark.
However, if the price falls below the MYR0.38 support, it
would signal the reversal of the trend.
Cosmos Technology International is set to resume its uptrend after climbing strongly above the MYR0.545 recent high yesterday, backed by surging trading volume.
The strong buying pressure above this level may likely lift the stock towards the MYR0.58 immediate resistance, followed by the next resistance at MYR0.645.
Conversely, a decline below the MYR0.485 support would negate the bullish setup.
Gas Malaysia is set to climb higher as it broke above the
MYR3.34 immediate resistance yesterday – forming a “higher high” bullish pattern above the 21-day SMA line.
The bullish momentum is likely to drive the stock higher towards the MYR3.46 resistance (52-week high), followed by the MYR3.65 next resistance level, which is the 2-year high.
However, a decline below the MYR3.22 support would trigger a downward movement.
