Dialog is poised to stage a bullish breakout.
RHB Retail Research in a note today (Apr 22) said last Friday, the stock charted a bullish candlestick and tested the MYR2.40 immediate
resistance.
Since crossing above the 21-day SMA line, the stock has been charting a series of “higher high” bullish candlesticks, showing that the bullish momentum is in play.
A bullish breakout would open the door for the stock to test the next resistance at MYR2.55, followed by MYR2.70.
On the other hand, breaching below the MYR2.25 support will kick off the correction phase.
Poh Kong is eyeing to resume the upside movement, testing the immediate resistance with high volume.
The counter is seen consolidating sideways below the MYR1.13 resistance.
They observe that trading volume has increased, this shows the bullish momentum is picking up pace again.
In the event the counter breaches past the immediate resistance, it should climb towards the next resistance at MYR1.20, followed by MYR1.30.
On the contrary, falling below the MYR1 support will confirm the bearish setup.
