BIMB Holdings is poised to extend the bullish movement after climbing above the resistance on strong volume.
RHB Retail Research (RHB) in a note today (Aug 16) said the stock managed to break past the MYR2.60 resistance to confirm a bullish setup.
The trading volume has been increasing in tandem with the share price, showing a strong bullish momentum is underway.
The stock is setting its sights on testing the next resistance pegged at MYR2.75, followed by the MYR2.90 level.
If it falls below the MYR2.48 support,this negates the bullish setup.
Go Hub Capital is eyeing to resume the upside movement, testing the immediate resistance with a bullish candlestick.
They have observed the counter consolidating sideways below the MYR1.25 resistance.
If a bullish breakout happens, the stock may resume the bullish trajectory and test the next resistance at MYR1.38, followed by the MYR1.50 level.
On the other hand, falling below the MYR1.11 support kicks off the correction phase.