RHB Investment Bank Bhd (RHB Research) has identified Yinson Holdings Bhd and Pentamaster Corporation Bhd as its latest technical stock picks after both counters broke above key resistance levels, signalling potential for further gains.
RHB Research said Yinson may resume its upward trajectory after staging a bullish breakout above the RM1.85 resistance. The stock formed a long bullish candlestick in the previous session, indicating strengthening buying momentum and confirming a positive technical setup.
The research house expects the counter to advance towards the immediate resistance at RM2, with the next upside target at RM2.15 if the bullish momentum is sustained. However, it noted that a decline below the RM1.70 support level would invalidate the positive outlook and signal a potential bearish reversal.
Meanwhile, Pentamaster Corporation is also expected to extend its gains after breaking above the RM5.10 resistance on strong price action.
According to RHB Research, the stock closed above the resistance with a bullish candlestick, confirming a resurgence in buying momentum and reinforcing its bullish technical outlook.
Should the momentum continue, Pentamaster could climb towards the next resistance at RM5.35 before testing RM5.60. On the downside, the research house said a fall below the RM4.85 support level may indicate weakening momentum and trigger a corrective move.
