Stock Picks Of The Day – SKP Resources, Master Tec Group

SKP Resources is in the midst of resuming its uptrend rebound after consolidating above the ascending 21-day SMA line, as it eyes the MYR0.925 immediate resistance level.

RHB Retail Research in a note today (Apr 2) said if a breakout occurs above this level,the stock would be propelled towards the next resistance level of MYR1.04, followed by the MYR1.12 resistance, which was also the 9-month high.

However, a fall below MYR0.855 would invalidate the bullish bias.

Master Tec Group is poised to resume its upward trajectory after rebounding from the 21-day SMA line yesterday – it recaptured the MYR1 level following a recent pullback.

Sustained bullish sentiment above this level is anticipated to propel the stock towards its previous all-time high of MYR1.19, with potential
further gains into the uncharted territory near MYR1.50.

However, a fall below the MYR0.885 support level would increase the risk of a reversal towards a downtrend, particularly if it falls below the SMA line.

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