Sealink International is poised to resume its uptrend after recently inching higher, aiming to test the MYR0.225 immediate resistance.
RHB Retail Research in a note today (May 10) said if a breakout above that level happens, the stock will
trend higher towards MYR0.26 – the 52-week high – and be followed by the MYR0.30 mark.
On the flip side, falling below the MYR0.175 support negates the bullish setup.
Perdana Petroleum is poised for a potential technical breakout after once again testing the MYR0.34 mark while reclaiming its position above the 21-day SMA line.
Should a breakout occur, the bullish sentiment above that level could propel the stock towards its recent high of MYR0.365, with further potential to reach the MYR0.40 threshold.
However, a breach below the MYR0.295 support reverses the momentum, as the counter trades below the SMA and forms a “lower low” bearish structure.
