Master Tec Group is looking to resume its uptrend – it inched up yesterday, heading towards the MYR1.08 immediate resistance level.
RHB Retail Research in a note today (May 3) said if a breakout occurs above this level, the stock should trend higher towards MYR1.18 (the historical high), followed by the MYR1.50 level.
On the flip side, a fall below the MYR0.90 support level would negate the bullish setup.
SkyWorld Development is set to rebound from its recent corrections after surpassing the MYR0.62 immediate resistance level yesterday.
The bullish bias above this level should drive the stock higher towards the MYR0.66 resistance level, followed by MYR0.70.
However, a fall below the MYR0.60 support level would reverse the momentum, as it would form a “lower low” bearish structure.
