RHB Investment Bank Bhd (RHB Research) has flagged IGB REIT Bhd and Vitrox Bhd as near-term trading ideas, citing strengthening bullish momentum supported by technical breakouts on higher volumes.
RHB Research said IGB REIT has extended its upward trajectory after breaking above the RM2.80 resistance level, supported by a bullish candlestick formation that signals strengthening positive momentum. The research house noted that the breakout could see the stock advance towards RM3.00, with a further upside target at RM3.20 if buying interest persists. However, it cautioned that a decline below the RM2.60 support level may trigger a correction.
Meanwhile, Vitrox is seen to be continuing its uptrend after surging past the RM4.75 resistance on strong volume, reinforcing market confidence in the counter’s bullish setup. RHB Research said sustained momentum could lift the stock towards RM5.10 in the near term, followed by a higher resistance level at RM5.35. On the downside, a pullback below RM4.50 may indicate a potential retracement.
The research house highlighted that both counters are showing constructive technical patterns, with breakout movements suggesting continued upside potential, although investors are advised to monitor key support levels for signs of trend reversal.
