RHB Research sees further upside for MBSB Bhd and Infomina Bhd after both counters broke above key resistance levels on strong trading volume.
RHB Research said MBSB had crossed the RM0.56 resistance, giving the stock a technical advantage and potentially allowing it to extend its “higher high” movement.
The research house said MBSB could next test RM0.59, followed by RM0.62. However, a fall below RM0.53 would invalidate the bullish technical setup and potentially trigger a correction.
Infomina, meanwhile, closed above the RM1.70 resistance after charting a fresh bullish candlestick on high volume.
RHB Research said Infomina’s 21-day simple moving average was also pointing upwards, indicating that its short-term trend remained bullish.
The stock could move towards RM1.78, followed by RM1.86, according to the research house.
A fall below the RM1.62 support level would invalidate Infomina’s bullish technical setup.
