SP Setia is set to propel northwards after bouncing off the 21-day SMA line, breaching above the MYR0.975 immediate resistance with surging trading volume.
RHB Retail Research in a note today (Mar 13) said if the breakout sustains, the stock may rise towards the MYR1.06 resistance, or the 52-week high, followed by the next resistance of MYR1.15.
On the flip side, falling below MYR0.91 would nullify the bullish bias.
TH Plantations is poised to resume its uptrend after testing the MYR0.79 immediate resistance during the intraday session yesterday on improved volume.
If it manages to surpass above that level, the stock may propel towards the recent high of MYR0.885, followed by the MYR1 mark.
On the other hand, breaching below the MYR0.74 support would increase the risk of corrections.
Econpile Holdings is eyeing to reclaim the previous breakout of MYR0.395 as it paused from the recent pullback beneath that level yesterday.
If it manages to climb above that level, the bullish momentum would be renewed, driving the stock towards the MYR0.435 resistance, followed by the next resistance at MYR0.48.
In the event it falls below the MYR0.35 support, this would invalidate the bullish set-up.
IJM Corporation is set to resume its uptrend after breaking above the MYR2.22 immediate resistance yesterday.
The bullish bias above that level is likely to propel the stock towards its YTD high of MYR2.30, followed by the MYR2.50 mark.
Towards the downside, breaching below the MYR2.10 support would lead to the kick-off of a correction phase.
