RHB Investment Bank Bhd (RHB Research) has identified AirAsia X and Cypark Resources as bullish trading picks, with both counters showing strong upward momentum backed by key technical signals.
AirAsia X is poised to extend its rebound after breaking above the RM1.55 resistance level with a decisive bullish candlestick. The stock is currently trading above its 21-day simple moving average (SMA), a sign that near-term sentiment remains positive. According to RHB Research, the counter is likely to test RM1.65 next, with an upside target of RM1.77. A drop below RM1.45, however, would invalidate the current bullish setup.
Meanwhile, Cypark Resources is set to continue its upward trajectory after closing above the 21-day SMA line with a strong bullish candlestick. RHB Research noted that after surpassing the RM0.67 resistance, the counter could climb towards RM0.72 and potentially RM0.765. On the downside, a breach below RM0.635 would negate the current bullish outlook.
RHB Research maintains a short-term bullish view on both stocks as long as support levels remain intact.
