RHB Investment Bank Bhd (RHB Research) identified Dagang NeXchange Bhd and Critical Holdings Bhd as its latest technical picks, citing bullish momentum and the potential for further gains.
According to the research house, Dagang NeXchange has extended its upward trajectory after breaking above the RM0.35 resistance level. The stock formed a long bullish candlestick, which RHB Research said confirmed the positive technical setup.
The research house expects the strong momentum to carry the counter towards the next resistance levels at RM0.38 and RM0.41. However, it noted that a fall below the RM0.325 support level could invalidate the bullish outlook and trigger a correction phase.
Meanwhile, RHB Research said Critical Holdings is also poised to continue its positive trend after recently testing its immediate resistance.
The stock has been consolidating below the RM1.13 resistance while remaining above its 21-day simple moving average, indicating that bullish momentum remains intact.
RHB Research said a breakout above the resistance level could attract fresh buying interest and push the stock towards RM1.20, followed by RM1.28.
On the downside, the research house said a breach below the RM1.05 support level would negate the positive view and signal the start of a correction.
