Texchem Resources is eyeing to extend the upside movement after breaking past the resistance on strong volume.
RHB Retail Research (RHB) in a note today (Aug 12) said the stock has climbed above the MYR0.90 resistance to confirm a bullish setup.
They said they have seen the trading volume increasing in tandem with the share price, showing momentum is picking up speed again.
This momentum may propel the counter towards the next resistance at MYR0.96, followed by the MYR1 mark.
If it falls below the MYR0.845 support, the bullish setup will be negated.
Catcha Digital is poised to continue the bullish trajectory after climbing above the resistance.
The counter managed to cross above the MYR0.41 resistance to reactivate the bullish setup.
If it stays above this breakout point, they expected a follow-through price action to test the MYR0.44 level, followed by the MYR0.48 mark.
On the downside, falling below the MYR0.38 support will resume the correction phase.