RHB Investment Bank Bhd (RHB Research) has identified MISC Bhd and Dialog Group Bhd as its latest technical stock picks after both counters broke above key resistance levels on strong trading volume, signalling the potential for further gains.
The research house said MISC is poised to extend its bullish trajectory after surpassing the RM8 resistance level with strong volume. The stock also formed a fresh higher high bullish candlestick, indicating that buying momentum remains intact.
RHB Research expects follow-through buying to lift MISC towards its next resistance at RM8.45, with a further upside target of RM8.85 should momentum persist.
However, it noted that the bullish outlook would be invalidated if the stock falls below its support level of RM7.60, which could trigger a corrective move.
Meanwhile, Dialog Group is also expected to continue its upward momentum after staging an upside breakout above the RM1.90 resistance level on strong volume.
According to RHB Research, the stock’s bullish candlestick formation signals strengthening momentum, with the next resistance levels seen at RM2.03 and RM2.16.
The research house said the positive technical setup would remain intact as long as Dialog stays above its RM1.77 support level. A break below that level could signal the start of a correction.
