Eastern & Oriental may extend its uptrend after undergoing a bullish breakout.
RHB Retail Research in a note today (Feb 26) said the counter broke past the MYR0.93 resistance on the heel of strong volume – indicating bullish momentum is in play now.
The momentum should lift the counter towards next resistance pegged at MYR1 and followed by MYR1.13.
On the downside, support has established the MYR0.83 level.
Breaching the support would open door for correction.
SAM Engineering and Equipment (M) is consolidating sideways and may undergo a bullish breakout.
The stock is testing the MYR4.30 immediate resistance with high volume.
In the event it breaks past the immediate resistance, a bullish setup will be confirmed.
In this scenario, the stock will climb towards MYR4.60, followed by the MYR5 mark.
Conversely, breaching below the MYR4 support will set off a downtrend.
PBA is poised to resume its upside movement after breaching the key resistance.
The stock has climbed above the MYR2.35 resistance on strong volume.
The price action shows that the bulls have the technical advantage now, and the renewed momentum should propel the stock towards MYR2.60, followed by MYR2.85.
In the event it falls below the MYR2.15support, this would invalidate the bullish setup.
Synergy House is in the midst of consolidating and may be resuming its uptrend.
The counter has been moving sideways below the MYR0.855 resistance.
The 21-day SMA line is moving upwards, indicating that the short-term trend remains bullish.
In the event, the counter breaks past the immediate resistance, it will climb towards MYR0.90, then MYR0.95.
Conversely, breaching below the MYR0.80 support will kick off a downtrend.
