Muhibbah Engineering (M) is expected to resume its uptrend after a bullish breakout.
RHB Retail Research in a note today (Feb 28) said the counter recently broke past the MYR0.805 resistance on the back of strong volume, indicating that bullish momentum is in play.
The momentum should lift the counter towards the next resistance level at MYR0.85, followed by MYR0.90.
On the downside, support has been established at the MYR0.765 level.
A fall below this level would open the doors for a correction.
CEKD is poised to trend higher after bouncing off the 21-day SMA line in an attempt to break past the MYR0.515 immediate resistance level.
If it manages to surpass this level, the bullish bias may propel the stock higher towards the MYR0.55 resistance level, followed by the next one at MYR0.62.
However, a fall below the MYR0.48 support level would kick off a downtrend.
IFCA MSC is in the midst of sideways consolidation and is poised for a bullish breakout after recently testing the MYR0.29 immediate resistance level.
If a breakout occurs above this level, the stock may climb towards the recent high of MYR0.31, followed by the 52-week high, which is also the MYR0.345 resistance level.
In the event that the stock falls below the MYR0.27 supportlevel, the bullish setup would be invalidated.
Comintel Corporation is set to climb higher after experiencing a bullish breakout above the MYR1.50 level yesterday, on the back of strong trading volume.
Currently positioned above the ascending 21-day SMA line, the stock is likely to climb towards MYR1.60, followed by MYR1.70.
However, a fall below the MYR1.44 support level would kick off a downtrend.
