RHB Investment Bank Bhd (RHB Research) has identified PLYTEC and Pesona Metro as stocks to watch, highlighting their bullish momentum and potential upside.
PLYTEC is projected to sustain its bullish trajectory after breaking through the RM0.39 resistance level. The stock's recent formation of a long white candlestick indicates strong upward momentum, with a "higher high" pattern reinforcing its positive outlook.
RHB Research anticipates the stock climbing towards RM0.42, with a further target at RM0.45. However, if the stock falls below the RM0.36 support level, it could trigger a market correction and dampen sentiment.
Pesona Metro is also poised for further gains, having breached the RM0.26 resistance level. The stock's strong bullish momentum was reflected in yesterday's white candlestick close.
The next resistance levels are pegged at RM0.28 and RM0.30, with a follow-through price action expected. Conversely, a drop below the RM0.24 support level may signal a correction.
RHB Research advises investors to monitor these levels closely as both stocks exhibit promising upside potential.
