RHB Research has identified Dayang Enterprise Holdings Bhd and D&O Green Technologies Bhd as stocks to watch, citing bullish technical setups and potential further upside.
For Dayang Enterprise, RHB Research said the counter could extend its gains after testing immediate resistance on strong trading volume. The stock formed a bullish candlestick on Tuesday, suggesting an interim base had formed near its 21-day simple moving average (SMA).
A break above the RM1.50 resistance could see the stock move towards RM1.60, followed by RM1.70. However, a fall below the RM1.40 support would weaken sentiment and signal a resumption of the correction.
Meanwhile, D&O Green Technologies could extend its bullish trajectory after breaking above resistance. RHB Research said the counter remains above its 21-day SMA and has closed above the RM0.45 resistance, indicating strengthening positive momentum.
The research house expects the stock to move towards RM0.48, followed by RM0.51. A fall below the RM0.42 support would negate the bullish setup and potentially trigger another correction.
