Sany Heavy Equipment International has staged a bullish breakout, climbing above the key resistance on strong volume.
RHB Retail Research in a note today (May 8) said the stock has closed above the HKD6.30 resistance to form a “higher high” bullish candlestick.
The 21-day SMA line is now trending upwards, showing that the short-term trend is bullish.
They expect the counter to travel towards HKD7.50, followed by the HKD8.50 level.
Meanwhile, falling below the HKD5.45 support resumes the correction phase.
Modern Dental Group is eyeing to extend the upside movement, charting a fresh “higher high” candlestick.
The counter has broken past the HKD5 resistance to confirm a bullish setup.
RHB observes that the trading volume has been increasing in tandem with the share price, showing a strong bullish momentum is underway.
This should lift the stock towards the next resistance pegged at the HKD5.80, followed by HKD6.30.
If it breaches the HKD4.50 support, this negates the bullish setup.
