Top Glove Corp Bhd is set to sustain its upward movement after breaking past the RM1.10 resistance level, according to RHB Investment Bank Bhd (RHB Research).
The stock closed with a white candlestick, signalling a bullish trend. Following this breakout, the stock is expected to climb towards the next resistance levels at RM1.18 and RM1.24. However, RHB Research noted that any decline below the RM1.05 support level would negate the bullish setup and potentially initiate a correction.
Meanwhile, AirAsia X Bhd is eyeing further gains, as the stock tests the immediate RM2 resistance with increasing trading volume. The counter has also printed a white candlestick, indicating that bullish momentum is building.
Should the breakout materialise, the stock could target RM2.15 and RM2.30 as subsequent resistance levels. A drop below the RM1.85 support, however, could signal a correction.
Both counters are showing promising signs of bullish activity, backed by strong technical setups and increasing investor interest.
