RHB Investment Bank Bhd (RHB Research) is positive on Greatech Technology Bhd and HSS Engineers Bhd, citing bullish technical signals that suggest further upside for both counters.
On Greatech Technology, the research house said the stock staged an upside breakout after surging past the RM1.95 resistance on strong volume, reinforcing underlying bullish momentum. Premised on this strength, the counter is expected to extend gains towards RM2.05, with the next hurdle seen at RM2.15. However, it cautioned that a breach below the RM1.85 support would constitute a bearish breakout and could trigger corrections.
Meanwhile, HSS Engineers is testing immediate resistance as it sets up for a potential continuation of its upward trend. RHB Research noted that the rising 21-day simple moving average indicates strengthening momentum, with the prevailing price structure favouring additional gains.
A decisive close above RM0.43 would confirm a breakout for HSS Engineers and may attract fresh buying interest, paving the way towards RM0.46 and subsequently RM0.49. On the downside, a slip below the RM0.40 support level would open the door to a corrective move.
