RHB Research has identified further upside potential for Sunway Healthcare Holdings Bhd and TMK Chemical Bhd after both counters broke through key resistance levels on strong positive momentum.
Sunway Healthcare staged a bullish breakout above the RM2.25 resistance on Friday, supported by strong trading volume and a long white candlestick. RHB Research said the move could see the stock test RM2.40, followed by RM2.55.
The research house said RM2.10 remains the key support level, with a fall below it likely to trigger a correction.
Meanwhile, TMK Chemical pushed above the RM3.10 resistance with a fresh bullish candlestick, signalling that its upward trajectory could continue.
RHB Research expects the counter to potentially test RM3.30 next, followed by RM3.50.
The research house identified RM2.90 as the key support level for TMK Chemical, with a break below it expected to negate the current positive setup and trigger a correction phase.
