RHB Research has identified Westports Holdings Bhd and SAM Engineering & Equipment (M) Bhd as stocks to watch after both counters recorded bullish technical breakouts.
Westports could extend its upward movement after crossing the RM6.85 resistance level, with the next resistance seen at RM7.20 followed by RM7.45, RHB Research said.
The counter formed a long bullish candlestick and moved above RM6.85, signalling positive momentum. A fall below the RM6.60 support level would invalidate the bullish setup.
Meanwhile, SAM Engineering is resuming its upward trajectory after breaking above the RM4.10 resistance level.
RHB Research said the counter formed a long Bullish Marubozu candlestick and closed above RM4.10, opening the way towards the immediate resistance at RM4.30 and subsequently RM4.50.
A decline below the RM3.90 support level would invalidate the bullish setup and potentially trigger a bearish reversal.
