Stock Picks Of The Day — DS Sigma, KGW

Photo Credit: DS SIGMA

DS Sigma is attempting to stage a bullish breakout after testing the immediate resistance with strong volume.

RHB Retail Research (RHB) in a note today said, the 21-day SMA line is moving upwards, showing that the short-term trend is bullish.

Meanwhile, the stock has been consolidating sideways
below the MYR0.41 resistance.

If a breakout happens, the stock will climb in a “higher high” pattern towards the next resistance at MYR0.44,followed by MYR0.48.

On the downside, a fall below the MYR0.37 supportlevel would resume the correction phase.

KGW is poised to extend its upside movement after climbing above the resistance level with strong volume.

The counter has breached the MYR0.255 resistance to form a fresh “higher high” bullish candlestick.

Volume is rising in tandem with the share price, suggesting that strong bullish momentum is underway.

Based on the momentum, the counter is setting its sights on the next resistance at MYR0.30, followed by MYR0.34.

However, a fall below the MYR0.215 support would negate the bullish setup.

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