RHB Investment Bank Bhd (RHB Research) has picked Skyechip Bhd and Zetrix AI Bhd as its stock picks, with both counters showing bullish technical setups following breakouts above key resistance levels on strong trading volume.
For Skyechip, RHB Research said the stock is attempting to extend its bullish trajectory after surging above the RM3.20 resistance level on strong volume.
The counter charted a long bullish candlestick on Wednesday and closed above the RM3.20 resistance, indicating that strong bullish momentum is in play.
Following the breakout, RHB Research expects Skyechip’s share price to test the next resistance at RM3.45, followed by RM3.65.
However, a fall below the RM3 support level would negate the bullish technical setup and potentially trigger a correction.
Meanwhile, Zetrix AI is also looking to extend its upside movement after breaking past the RM0.73 resistance on strong volume.
RHB Research said the counter printed a long bullish candlestick and closed above the RM0.73 resistance, signalling a bullish technical setup.
Riding on the positive momentum, the research house expects Zetrix AI to move towards RM0.77, followed by RM0.80.
However, a breach of the RM0.70 support level would dent market sentiment and lead to a resumption of the correction phase.
