RHB Investment Bank Bhd (RHB Research) has identified Hartalega Holdings Bhd and THMY Holdings Bhd as technical trading picks after both counters staged bullish breakouts supported by stronger momentum.
According to the research house, Hartalega is poised to extend its upward trajectory after breaking above the RM1.30 resistance level on strong trading volume, signalling growing buying interest.
RHB Research said the breakout could pave the way for the stock to test its next resistance at RM1.45, followed by RM1.60 if bullish momentum continues.
However, the research house noted that a fall below the RM1.15 support level would invalidate the positive setup.
Meanwhile, THMY was also seen entering a stronger bullish phase after closing above the RM1.35 resistance level while forming a fresh “higher high” bullish candlestick pattern.
RHB Research said the price action indicates that strong bullish momentum remains in play, with the counter expected to climb towards RM1.45 before potentially testing RM1.55.
The firm added that the bullish outlook for THMY would be negated should the stock fall below the RM1.25 support level.
