Karex is eyeing to breakout from the consolidation zone as trading volume is starting to pick up.
RHB Retail Research (RHB) in a note today (July 4) said the stock has been moving sideways below the MYR0.90 resistance.
They have observed the trading volume increasing, showing the bullish momentum is increasing pace again.
If the breakout happens, the counter may set its sights on testing the next resistance at MYR0.96, followed
by the MYR1.05 level.
On the downside, breaching the MYR0.78 support kicks off the correction phase.
Seal is poised to extend the upside movement after breaking past the resistance on strong volume.
The counter has climbed above the MYR0.60 resistance to confirm a bullish setup.
They have observed the trading volume increasing in tandem with the share price, indicating a strong bullish momentum is underway.
We expected a follow-through price action to test the MYR0.66 level, followed by the MYR0.72 mark.
However, falling below the MYR0.545 support negates the bullish setup.