RHB Investment Bank Bhd (RHB Research) has highlighted bullish trends for two stocks, Palantir Technologies and Upstart, both of which are showing strong price movements.
Palantir Technologies is on track for a bullish breakout, according to RHB Research, after posting a long-body bullish candlestick. The 21-day Simple Moving Average (SMA) is trending higher, indicating a positive short-term trend.
If the stock closes above US$77 and maintains this breakout level, it could attract fresh buying pressure. RHB expects the stock to rise towards US$85, with further resistance at US$92. However, a fall below US$68 support would weaken market sentiment and could trigger a pullback.
Similarly, Upstart is also showing signs of bullish momentum after breaking above immediate resistance levels. The stock printed a white candlestick and rose above the US$80 resistance, with increasing volume indicating positive momentum.
RHB Research expects the stock to continue its upward trajectory towards US$90, and potentially reach US$100. A drop below the US$70 support level would suggest a potential correction.
