Stock Picks Of The Day — GDB, Gadang, Three-A Resources, Kia Lim

GDB has formed a bullish set-up after breaking past a key resistance.

RHB Retail Research in a note today (Mar 25) said the counter climbed above the MYR0.255 resistance
on the back of high volume – showing that a strong bullish momentum is underway.

This momentum should propel the stock towards the next resistance pegged at MYR0.295, followed by the MYR0.32 level.

On the flipside, breaching below the MYR0.23 threshold negates the bullish set-up.

Gadang is eyeing to extend the upside movement after staging a bullish breakout on high volume.

The stock broke past the MYR0.41 resistance to form a “higher high” bullish candlestick.

The house have observed the trading volume increasing in tandem with the share price, signalling that a bullish momentum is gaining pace.

Riding on this momentum, the counter may climb towards MYR0.44, followed by the MYR0.47 level.

Meanwhile, falling below the MYR0.38 support kicks off the correction phase.

Three-A Resources is poised to scale higher after staging a bullish breakout.

The stock broke past the MYR0.92 resistance on high volume and formed a “higher high” bullish candlestick.

They have observed the trading volume increasing, indicating that the bullish momentum is increasing speed.

RHB expect a follow-through price action to test the MYR0.95 level, followed by the MYR1 mark.

If the counter falls below the MYR0.885 support, this opens the door for downward movements.

Kia Lim is consolidating sideways while eyeing to stage a bullish breakout.

The counter has been moving sideways below the
MYR0.805 resistance while the 21-day SMA line moves upwards – this shows the short-term trend remains bullish.

In the event a breakout happens, the stock will climb towards the next resistance at MYR0.88, followed by the MYR0.95 level.

On the downside, breaching below the MYR0.70 support sets off the correction phase.

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