Crescendo is poised to extend the upside movement after staging a bullish breakout.
RHB Retail Research in a note today (Apr 1) said the counter broke past the MYR2.95 resistance to form a fresh “higher high” bullish candlestick.
Coupled with the gap up, this shows strong bullish momentum is underway.
The momentum should lift the counter towards the next resistance pegged at MYR3.20, followed by MYR3.50.
Conversely, falling below the MYR2.75 support would invalidate the bullish setup.
Edelteq is eyeing to stage a bullish breakout, testing the immediate resistance with high volume.
The stock has been moving sideways below the MYR0.375 resistance.
RHB observe trading volume has been increasing, this shows the bullish momentum is gaining traction.
In the event a breakout happens, the stock may climb towards MYR0.43, followed by MYR0.475.
On the other hand, breaching below the MYR0.33 support will resume the correction phase.
Velesto Energy is attempting to breakout from the consolidation zone.
The stock is seen moving sideways below the MYR0.30 resistance for the past one month.
They observe that trading volume has been increasing, suggesting the bullish momentum is picking up.
If the stock breaks past the immediate threshold, the bulls will test the next resistance at MYR0.325, followed by MYR0.35.
Meanwhile, falling below the MYR0.27 support would open the door to a downwards movement.
AMMB is eyeing to extend the technical rebound, testing the immediate resistance.
The counter climbed above the 21-day SMA line and has been charting a series of “higher highs” with “higher lows”.
This shows the bulls have the technical advantage now.
In the event the stock breaks past the MYR4.20 resistance, expect a follow-through price action to test MYR4.40, followed by MYR4.60.
On the flipside, breaching below the MYR4 support will resume the bearish phase.
