Cape EMS is eyeing to extend the upside movement after breaking past the key resistance on high volume.
RHB Retail Research in a note today (Feb 23) said the stock managed to climb above the MYR1.10 resistance to chart a fresh “higher high” bullish candlestick.
The latest breakout suggests the bullish momentum is strong.
The stock should climb towards MYR1.17,followed by MYR1.23.On the other hand, falling below the MYR1.04 support will kick off the bearish phase.
AGX has staged a bullish breakout on strong volume.
The house observes that the counter broke past the MYR0.38 resistance to chart a bullish candlestick.
Trading volume has increased in tandem with the share price showing the bullish momentum is gaining pace.
Riding on the momentum, the counter should climb towards the next resistance pegged at MYR0.425, followed by MYR0.46.
Meanwhile, breaching the MYR0.35 support will nullify the bullish setup.
Shangri-La Hotels (Malaysia) is in the midst of extending the bullish pathway after it broke past the key resistance.
The stock managed to breach above the MYR2.15 resistance to confirm a bullish setup.
The house observes that the 21-day SMA line is also moving upwards, showing the short-term trend is bullish.
The counter is eying to testthe next resistance at MYR2.30, followed by MYR2.50.
In the event it falls below the MYR2 support, this will negate the bullish setup.
Lee Swee Kiat still has legs after it staged a bullish breakout.
The counter managed to break past the MYR1.17 resistance to confirm a bullish setup.
A follow through of the price action or a “higher high” would see the counter climb towards MYR1.25, followed by MYR1.30.
On the flip side, falling below the MYR1.11 support may open the door to a correction phase.
