RHB Investment Bank Bhd’s research arm expects Greatech Technology Bhd and Critical Holdings Bhd to extend their gains after both counters broke through key resistance levels on strong bullish momentum.
For Greatech Technology, RHB Research said the counter staged a bullish breakout, printing a white candlestick and closing above the RM2.80 resistance.
The breakout signals strengthening momentum, with the stock expected to test the next resistance at RM2.95 followed by RM3.10.
However, a fall below the RM2.65 support would negate the bullish setup and open the way for a correction.
Meanwhile, Critical Holdings is also poised for further upside after breaking past its resistance level on strong trading volume.
The counter recorded fresh positive price action yesterday and closed above the RM2.70 resistance, indicating that bullish momentum is underway.
RHB Research expects the stock to see follow-through buying towards RM2.95, followed by the RM3.15 level.
A drop below the RM2.50 support, however, could dent market sentiment and trigger a corrective move.
