Bina Darulaman is poised to resume its uptrend after yesterday’s retreat from the recent breakout – maintaining above the rising 21-day SMA line.
RHB Retail Research in a note today (Apr 4) said if it manages to reclaim the MYR0.425 immediate resistance, the stock would trend higher towards the MYR0.445 recent high, followed by the MYR0.50 next resistance.
However, a fall below MYR0.375 invalidates the bullish setup.
Lay Hong is set to trend higher after rebounding above the 21- day SMA line – recently surpassing the MYR0.41 immediate resistance with strong volume.
Sustained bullish momentum above this level should propel the stock towards the MYR0.445 recent high, followed by the MYR0.50 next resistance.
However, a fall below the MYR0.38 supportincreases the risk of a reversal towards a downtrend, particularly if it falls below the SMA line
