Ramssol Group is set to resume its uptrend as it inched higher yesterday, breaching above the MYR0.47 immediate resistance.
RHB Retail Research in a note today (May 9) said if the breakout sustains, the stock will trend higher towards MYR0.54 – the 52-week high – and be followed by the MYR0.60 mark.
On the flip side, falling below the MYR0.43 support negates the bullish setup.
Reservoir Link Energy is eyeing for a technical breakout after again testing the MYR0.34 immediate resistance yesterday on high volume.
If a breakout happens, the bullish bias above that level may drive the stock higher towards the MYR0.355 recent high, followed by the MYR0.40 threshold.
However, breaching below the MYR0.31 support reverses the momentum, as it trades below the SMA and forms a “lower low” bearish structure.
