Bank Islam Malaysia is set for an uptrend after experiencing a technical breakout above the MYR2.30 yesterday – forming a “Bullish Marubozu” candlestick.
RHB Retail Research in a note today (Feb 16) said backed by strong trading volume, the stock may climb higher towards the MYR2.50 immediate resistance, followed by the MYR2.72 next resistance.
However, a fall below the MYR2.20 support would potentially signal a downtrend.
Rohas Tecnic is firming up its uptrend rebound after inching higher above the MYR0.385 recent breakout level yesterday.
The bullish momentum above that level may drive the stock higher towards the MYR0.415 immediate resistance, followed by the next resistance level at MYR0.46.
However, if the price falls below the MYR0.35 support, it would signal the reversal of the trend.
Cnergenz is set for an uptrend reversal after rebounding above the 21-day SMA line, and surpassing the MYR0.605 immediate resistance level yesterday.
If it manages to sustain above that level, the bulls may drive the stock towards the MYR0.64 immediate resistance, followed by the next resistance at MYR0.71.
Conversely, a decline below the MYR0.56 support would negate the bullish setup.
TT Vision Holdings is set for an uptrend rebound after bouncing off the 21-day SMA line, breaching above the MYR0.84 immediate resistance yesterday – backed by surging trading volume.
The bullish rebound is likely to persist heading towards the MYR0.95 resistance, followed by the MYR1.05 next resistance level.
However, a decline below the MYR0.765 support would trigger a downward movement.
