RHB Investment Bank Bhd’s research arm has identified Inari Amertron Bhd and Malayan Cement Bhd as potential stock picks, citing improving bullish momentum and technical breakouts.
For Inari Amertron, RHB Research said the counter is attempting to extend its bullish trajectory after breaking above the RM2.65 resistance level on strong volume.
The stock formed a white candlestick as trading volume increased, indicating strengthening bullish momentum, the research house said.
A sustained move above RM2.65 could see the stock advance towards RM2.85, followed by RM3.05. However, a fall below the RM2.45 support could trigger a correction.
Meanwhile, Malayan Cement is poised to extend its counter-trend rebound after testing immediate resistance with strong volume.
RHB Research noted that the stock posted its fifth consecutive bullish candlestick in the latest session, signalling increasing buying momentum.
A close above the RM5.65 resistance would confirm the bullish setup, with the stock potentially moving towards RM5.95 and then RM6.25.
A fall below the RM5.35 support, however, could trigger a correction.
