Deleum is eyeing to extend the bullish movement after breaking past the resistance on strong volume.
RHB Retail Research (RHB) in a note today (27 Aug) said the stock climbed above the MYR1.40 resistance and printed a long bullish candlestick.
This latest price action shows a strong bullish momentum is in play.
They expected a follow-through price action to test the next resistance levels at MYR1.50 and MYR1.57.
In the event, it breaches the MYR1.33 support, this invalidates the bullish setup.
Perdana Petroleum is attempting to resume the upside
movement, testing the immediate resistance with a bullish candlestick.
The counter staged a rebound yesterday and
touched the MYR0.405 resistance.
In the event the bullish breakout happens, it may extend the rebound towards MYR0.435, followed by the MYR0.465 level.
Conversely, falling below MYR0.365 support opens the door for further corrections.