RHB Investment Bank Bhd (RHB Research) has identified Gas Malaysia Bhd and Oriental Kopi Holdings Bhd as its latest technical stock picks, saying both counters are showing bullish momentum after breaking above key resistance levels.
The research house said Gas Malaysia is poised to extend its upward trend after closing above the RM5.25 resistance, confirming a bullish technical setup.
RHB Research expects the stock to test RM5.50 initially, followed by RM5.75 if buying momentum continues. However, it noted that a decline below the RM5.00 support level would invalidate the bullish outlook and signal the start of a correction.
Meanwhile, Oriental Kopi is also attempting to build on its gains after breaking through the RM0.96 resistance on rising trading volume.
According to RHB Research, the strong volume indicates sustained buying interest, with the stock likely to target RM1.04 before potentially advancing to RM1.12.
The research house added that the bullish scenario would remain intact as long as Oriental Kopi stays above its RM0.88 support level. A move below that threshold could trigger a correction phase.
