RHB Investment Bank Bhd (RHB Research) has identified bullish setups for Crest Group and Mega Fortris, signalling potential upward trends in both counters.
Crest Group has surged past the RM0.285 resistance level with a strong white candlestick, indicating robust bullish momentum. Following this breakout, RHB Research anticipates continued price movement towards RM0.31, with the next resistance pegged at RM0.33. However, a fall below the RM0.265 support level would invalidate the bullish setup and could trigger a correction phase.
Similarly, Mega Fortris has demonstrated a bullish breakout, closing above the RM0.625 resistance on high trading volume. This suggests a favourable technical setup, with the counter potentially climbing to RM0.65 and subsequently RM0.70. Nonetheless, a breach below the RM0.595 support level would weaken sentiment and likely lead to a correction phase.
RHB Research emphasises that the continuation of these upward movements is contingent on maintaining key support levels.
