Stock Picks Of The Day: Ramssol And KHPT

Business Today · Oct 22 07:52

Ramssol is on the verge of a bullish breakout, following the formation of several consecutive bullish candlesticks, according to a report by RHB Investment Bank Bhd. The stock has been exhibiting an upward trend with "higher highs" and "higher lows," indicating growing bullish momentum. Should Ramssol close above the RM0.65 resistance level, this would confirm the bullish setup. After the breakout, the stock is expected to continue its upward movement, targeting RM0.70, followed by RM0.765. However, if it retreats below the RM0.585 support level, a bearish phase could begin.

Meanwhile, KHPT is aiming to extend its technical rebound, with the stock testing its immediate resistance on the back of strong trading volume. A long white candlestick has emerged, signalling increased bullish momentum. If the stock breaks above the RM0.22 resistance level, a bullish bias is likely to develop, with KHPT potentially climbing towards RM0.245, and later RM0.27. Conversely, a fall below the RM0.19 support level would dampen market sentiment and may resume the stock's correction phase.

These two stocks present significant opportunities for investors, with potential upside if key resistance levels are breached. However, caution is advised as failure to maintain support levels could trigger downward trends.

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Stock Picks Of The Day: Ramssol And KHPT

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