RHB Investment Bank Bhd (RHB Research) has identified Pentamaster Corporation Bhd and BM Greentech Bhd as stocks with further upside potential, citing bullish technical signals and strong trading volumes.
For Pentamaster, RHB Research said the stock could extend its bullish trajectory after testing its immediate resistance on high volume.
The counter had been consolidating sideways below the RM5.60 resistance level, while rising trading volume alongside the share price indicated that strong bullish momentum was building.
A breakout above RM5.60 could see Pentamaster move towards the next resistance levels at RM5.85 and RM6.10, according to the research house.
However, a fall below the RM5.35 support could trigger a correction phase.
Meanwhile, BM Greentech is also showing signs of continued bullish momentum following an upside breakout on strong volume.
RHB Research noted that the stock jumped above the RM1.90 resistance last Friday and formed a long bullish candlestick, reinforcing the positive momentum.
The counter could subsequently test RM2.05, followed by RM2.15, if the upward trend persists.
On the downside, a breach of the RM1.80 support could weaken market sentiment and trigger further downward movement.
