RHB Research expects PPB Group Bhd and Binastra Corp Bhd to extend their bullish momentum after both counters broke above key resistance levels on strong trading activity.
For PPB Group, RHB Research said the stock is poised to resume its bullish trajectory after breaking past the RM9.90 resistance with strong volume.
The stock formed a fresh high bullish candlestick and closed above RM9.90, indicating that the bullish setup remains intact.
Based on the strong momentum, RHB Research expects PPB Group to test the next resistance at RM10.50, followed by RM10.90.
However, a fall below the RM9.50 support would invalidate the bullish setup and potentially trigger a correction.
Meanwhile, Binastra Corp is also looking to extend its upward trajectory following a bullish breakout above the RM2.40 level.
RHB Research said the stock printed a bullish candlestick and closed above RM2.40, suggesting that its bullish momentum is gaining strength.
The research house expects near-term buying pressure to push Binastra towards the next resistance at RM2.55, followed by RM2.65.
A decline below the RM2.30 support would invalidate the bullish setup and trigger a correction, RHB Research said.
