CCK Consolidated is poised to extend the bullish trajectory after breaking past the key resistance.
RHB Retail Research (RHB) in a note today (Aug 22) said the stock managed to close above the RM1.76 resistance with a long bullish candlestick, showing strong bullish momentum is in play now.
Expect a follow-through price action to chart a fresh "higher high" – testing MYR1.88, followed by the RM2 mark.
On the contrary, falling below the RM1.60 support will negate the bullish setup.
MGB has staged a bullish breakout on the back of high volume.
The counter broke past the RM0.875 resistance to confirm a bullish setup.
The trading volume has increased, indicating strong bullish momentum is underway.
Premised on the bullish momentum, the counter may extend the upside movement towards the next resistance at RM0.93, followed by RM0.97.
If it breaches the RM0.835 support, this will kick off the
correction phase.
