RHB Investment Bank Bhd (RHB Research) has identified KPJ Healthcare and Genetec Technology as technical stock picks, citing bullish chart patterns and improving momentum that could support further gains in the near term.
According to the research house, KPJ Healthcare appears poised to resume its upward trend after staging a bullish breakout above the RM3.23 level. The stock formed a bullish candlestick and closed above the resistance level, signalling a shift in momentum towards the upside.
RHB Research said the breakout could attract follow-through buying interest, potentially lifting the healthcare counter towards its next resistance levels of RM3.40 and RM3.53. However, a decline below the RM3.10 support level would invalidate the positive setup and trigger a correction.
Meanwhile, Genetec Technology is showing signs that its recent consolidation phase may have ended, with the stock forming a bullish candlestick and edging closer to the RM0.31 resistance level.
The research house said a successful breakout above RM0.31 could pave the way for further gains towards RM0.33, with a higher resistance target at RM0.35. The setup would be negated if the stock falls below the RM0.29 support level, which could result in a corrective move.
