Avaland may extend its uptrend after undergoing a bullish breakout.
The counter broke past the MYR0.29 resistance recently on the heel of strong volume – indicating bullish momentum is in play now.
The momentum should lift the counter towards the next resistance at MYR0.355 (the highest level since 1 Apr 2021) and followed by the MYR0.41 resistance.
On the downside, support has established at the MYR0.26 level.
Breaching the support would open the door for correction.
B.I.G. Industries is staging an uptrend rebound after breaking above the MYR0.72 level with improved volume.
If the bullish momentum above that level persists, the stock will climb towards MYR0.77, followed by the MYR0.825 next resistance.
Conversely, breaching below the MYR0.685 support will set off a downtrend.
Bank Islam Malaysia is set for an upward move after breaching above the immediate resistance following the recent pullback.
The stock has climbed above the MYR2.44 immediate resistance on strong volume – forming a fresh “higher high” bullish pattern.
The price action shows the renewed momentum should propel it towards the MYR2.73 resistance, followed by the MYR3 mark.
In the event it falls below the MYR2.32 support, this would invalidate the bullish setup.
Tomei Consolidated is poised for a technical breakout after inching higher above the 21-day SMA line – heading towards the MYR1.30 mark.
If a breakout above that level occurs to form a fresh “higher high” bullish structure, the counter may climb towards MYR1.40, then MYR1.49.
Conversely, breaching below the MYR1.23 support will kick off a downtrend.
