Stock Picks Of The Day – Engtex, Crescendo Corp
Stock Picks Of The Day – Engtex, Crescendo Corp
Engtex is eyeing to stage a bullish breakout by testing the immediate resistance.
The stock printed a bullish candlestick and closed above the 21-day SMA line, showing that the bullish momentum is gaining traction.
If it breaks past the MYR1.16 resistance, a bullish bias will emerge.
The momentum may propel the counter towards MYR1.21, followed by the MYR1.28 level.
On the contrary, falling below the MYR1.08 support opens the door for downward movements.
Crescendo Corp is poised to resume the upside movement after staging a bullish breakout.
The counter jumped above the MYR3.88 resistance on the back of strong volume, showing that the bullish momentum is now increasing speed.
Riding on the renewed momentum, the stock is eyeing to test the next resistance at MYR4.25, followed by the MYR4.50 level.
However, a breach below the MYR3.60 support will negate the bullish setup.