Genetec Technology is showing strong signs of extending its upward momentum, according to RHB Investment Bank Bhd (RHB Research). After breaking past the RM0.84 resistance level with a surge in volume, the stock formed a long white candlestick, indicating bullish momentum. RHB Research suggest that if the current momentum holds, Genetec's price could further rally to RM1.05, with the potential to reach RM1.18 in the near term. However, a dip below RM0.72 would signal a return to its previous correction phase.
Meanwhile, Theta Edge is also showing potential for a bullish breakout. After consolidating below the RM1.55 resistance level, recent trading volumes suggest heightened interest in the stock. If Theta Edge closes above the RM1.55 mark, it could confirm a bullish setup, potentially driving the price up to RM1.70, with an eye on RM1.85. Conversely, a drop below RM1.35 would likely indicate renewed downside pressure.
These technical movements for both Genetec and Theta Edge suggest a potentially promising period ahead for investors, contingent on key resistance levels being held.
