SkyeChip Bhd and ECA Integrated Solution Bhd are showing fresh bullish technical setups after breaking key resistance levels on strong volume, with RHB Investment Bank Bhd (RHB Research) flagging continued upside momentum in both counters.
RHB Research said SkyeChip is attempting to resume its bullish trajectory after decisively breaking above the RM3 resistance level on a strong bullish candlestick pattern supported by elevated trading volume.
The breakout signals renewed buying interest, with the stock now expected to extend its advance towards RM3.20, followed by RM3.40, in the near term.
However, the research house cautioned that a fall below RM2.85 would invalidate the bullish setup and open the door to corrective pressure.
ECA Integrated Solution, meanwhile, is similarly positioned for further gains after breaking above the 24 sen resistance level, forming a “higher high” structure that RHB Research said reflects strengthening upward momentum.
According to RHB Research, the counter is now expected to test 27.5 sen, with potential extension towards the 30 sen mark if buying interest persists. A drop below 22 sen, however, would negate the bullish formation and signal a possible reversal.
RHB Research’s technical outlook suggests both stocks are in momentum-driven phases, with price action and volume trends indicating continued short-term investor interest, provided key support levels hold.
