RHB Investment Bank Bhd (RHB Research) has identified Kerjaya Prospek Group Bhd and Aurelius Technologies Bhd as stocks with bullish technical setups following recent breakouts.
For Kerjaya Prospek Group, RHB Research said the stock was resuming its upward movement after staging a technical breakout, with the counter remaining above its 21-day simple moving average (SMA) line.
The stock also closed above the RM2.75 resistance level, indicating that a bullish technical setup was in play.
Following the breakout, RHB Research expects the stock to move towards RM2.90, followed by RM3.
However, a breach below the RM2.65 support level would negate the bullish setup and trigger a correction.
Meanwhile, RHB Research said Aurelius Technologies’ uptrend could extend after the stock breached its resistance level on high trading volume.
The stock formed a bullish candlestick on Monday and closed above the RM0.78 resistance, signalling strong bullish momentum.
RHB Research expects the follow-through price action to test the next resistance at RM0.83, followed by RM0.87.
A fall below the RM0.74 support level would invalidate the bullish setup, it said.
