RHB Investment Bank Bhd (RHB Research) has identified Southern Cable Group and Hartalega Holdings Bhd as stocks with strong bullish potential, backed by solid technical indicators.
Southern Cable Group is set to maintain its upward trajectory, having broken past the RM0.98 resistance level on high trading volume. The formation of a white candlestick and the consistent rise in volume underscore robust bullish momentum. Following this breakout, the stock is anticipated to climb further, targeting RM1.05 initially, with the next resistance at RM1.12. However, a decline below RM0.90 would negate this bullish setup and signal the start of a corrective phase.
Hartalega is also on track for continued gains after surpassing the RM3.50 resistance, supported by a bullish candlestick formation. Post-breakout, the stock is expected to chart new highs, with RM3.80 as the next resistance level, followed by RM4.10. Conversely, a drop below RM3.30 could dampen sentiment, paving the way for a correction.RHB Research's analysis suggests these stocks are poised for further growth, barring any breaks in their current bullish trends.
