IOI Corp is eyeing a bullish breakout after climbing above the 21- day SMA line and testing the immediate resistance level.
RHB Retail Research (RHB) in a note today (July 18) said the stock underwent a correction after falling below the 21-day SMA line.
If it breaks past the MYR3.80 resistance level, a bullish bias will emerge.
In this case, the stock will climb in a "higher high" pattern towards MYR4, followed by MYR4.20.
However, a fall below the MYR3.65 support level would resume the correction phase.
Berjaya Land is attempting to break past the immediate resistance after charting a bullish candlestick.
The counter rose to test the MYR0.42 resistance level yesterday.
If it closes above the immediate resistance, a bullish setup will be confirmed.
In this scenario, the counter may extend its upside movement towards MYR0.45, followed by MYR0.48.
However, a fall below the MYR0.39 support level would kick off downward movement.