RHB Investment Bank Bhd (RHB Research) has identified Sime Darby Property Bhd and QES Group Bhd as stocks with near-term upside potential, citing bullish technical breakouts supported by strong momentum.
The research house said Sime Darby Property is poised to extend its gains after breaking above the RM1.35 resistance level with strong trading volume. It noted that the stock formed a bullish Marubozu candlestick, signalling firm buying interest and positive momentum.
RHB Research expects the counter to test the next resistance levels at RM1.43 and RM1.51 if the upward trend continues. However, it cautioned that a drop below the RM1.27 support level could weaken sentiment and trigger a reversal.
Meanwhile, QES Group has also entered a bullish phase after closing above the RM0.42 resistance level. The stock registered a “higher high” candlestick pattern, indicating strengthening upward momentum.
The research house said QES is likely to target the next resistance levels at RM0.45 and RM0.48, supported by sustained buying interest. On the downside, it flagged RM0.39 as a key support level, with a breach potentially leading to renewed selling pressure.
RHB Research noted that both counters are currently riding on positive technical setups, with momentum-driven trading expected to guide near-term price movements.
