The bullish trajectory on TAS Offshore may be extended after it broke past the resistance on strong volume.
RHB Retail Research in a note today (May 6) on Friday, the stock climbed above the MYR0.80 resistance on strong volume, thereby strengthening the bullish setup.
Riding on the strong momentum, the stock should travel towards the next resistance of MYR0.95, followed by MYR1.10.
On the flip side, falling below the MYR0.69 support will open the door to a bearish movement.
SAM Engineering & Equipment (M) has undergone a bullish breakout, and is poised to extend the upside movement.
The counter closed above the MYR5 resistance to chart a “higher high” bullish candlestick.
The latest breakout, coupled with high volume, shows that the bullish momentum is gaining pace.
Expect a follow-through price action to test the MYR5.50 resistance point, followed by the MYR6 mark.
On the other hand, falling below the MYR4.60 support will kick off the correction phase.
