Malaysian Resources Corporation is eyeing to extend the upside movement, testing the immediate resistance with high volume.
RHB Retail Research (RHB) in a note today (July 19) said the stock climbed above the 21-day SMA line and is poised to break past the MYR0.70 resistance.
If a breakout occurs, the momentum may lift the stock towards MYR0.74, followed by MYR0.80.
On the downside, falling below the MYR0.65 support would resume the correction phase.
Teo Seng Capital is poised to extend the bullish trajectory after staging a bullish breakout.
Yesterday, the counter rose higher and closed above the MYR1.90 resistance.
They observed the trading volume is surging in tandem with the share price, showing strong bullish momentum is underway.
The counter may print a fresh "higher high" to test MYR2.10, followed by MYR2.25.
However, a breach below the MYR1.75 support would resume the downward movement.