Stock Picks Of The Day – Agmo, Yong Tai

Agmo is resuming its upside movement after climbing above the resistance level with strong volume.

RHB Retail Research (RHB) in a note today (July 2) said the stock rose above the MYR0.70 resistance to confirm a bullish setup.

Meanwhile, the 21-day SMA line is moving upwards, showing that the short-term trend is bullish.

Riding on the renewed momentum, the stock is setting its sights on the next resistance at MYR0.77, followed by MYR0.83.

However, a fall below the MYR0.645 support would negate the bullish setup.

Yong Tai is eyeing a bullish breakout after testing the immediate resistance with strong volume.

The counter has been consolidating sideways below the MYR0.375 resistance level.

They observed that trading volume has been increasing, showing that bullish momentum is picking up.

If a breakout occurs, a bullish bias will emerge, and the counter would climb towards MYR0.41, followed by MYR0.45.

A fall below the MYR0.33 support would lead to the resumption of the correction phase.

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