IFCA MSC and AMMB Holdings are set to continue their bullish trajectories after both counters broke past key resistance levels, according to an analysis by RHB Investment Bank Bhd (RHB Research).
IFCA MSC has shown bullish momentum after breaking the RM0.65 resistance on strong volume. The counter printed a "higher high" bullish candlestick, signalling further upside potential. If the momentum persists, the research house predicted that the stock may test the RM0.71 level, with a higher resistance pegged at RM0.76.
However, a dip below the RM0.60 support could trigger a correction, reversing the bullish setup.
AMMB Holdings has similarly staged a bullish breakout, closing above the RM5.50 resistance with a long white candlestick, indicating strong upward momentum. The stock is expected by RHB Research to climb towards RM5.80, with the next target at RM6.20.
On the downside, a fall below the RM5.25 support would negate the current bullish formation and signal potential consolidation.
Both stocks exhibit promising technical setups, but traders are advised by RHB Research to monitor key support levels to manage risks effectively.
