RHB Investment Bank Bhd (RHB Research) has identified Matrix Concepts Holdings Bhd and LAC Medical Group Bhd as its latest technical trading ideas, citing improving price momentum and bullish chart patterns for both counters.
For Matrix Concepts, the research house said the stock is testing immediate resistance and appears poised for a breakout above the RM1.25 level after forming a bullish candlestick in the previous session.
RHB Research noted that trading volume has been rising, indicating that underlying bullish momentum is strengthening.
Should the stock successfully break above RM1.25, the next upside targets are RM1.35, followed by RM1.45.
However, the research house cautioned that a decline below the RM1.15 support level would invalidate the positive outlook and could trigger a price correction.
Meanwhile, RHB Research said LAC Med remains on a bullish trajectory after breaking above the RM0.80 resistance level on strong trading volume.
The stock printed a fresh “higher high” bullish candlestick and closed above the key resistance, signalling that bullish momentum remains intact.
Based on the current technical setup, RHB Research expects the counter to extend its gains towards RM0.85, with the next resistance seen at RM0.90.
On the downside, the research house said the bullish view would be negated if the stock falls below the RM0.75 support level, opening the door for a correction.
