D&O Green Technologies is demonstrating a bullish setup after breaking the key resistance. The stock has climbed above the MYR3.70 resistance to form a “higher high” bullish candlestick.
RHB Retail Research in a note today (June 18) said the latest breakout, coupled with the rising volume, indicate the bullish momentum is gaining pace.
They expected the follow-through momentum to propel the stock towards the next resistance at MYR4.10, followed by MYR4.50.
Conversely, falling below the MYR3.50 support will kick off the correction phase.
Cahya Mata Sarawak is eyeing to extend the upside movement after staging a bullish breakout.
The counter has broken past the MYR1.30 resistance on the back of high volume, confirming a bullish setup.
As long as the counter stays above the breakout point, they expected the follow-through price action to test the next resistance pegged at MYR1.50, followed by the MYR1.65 level.
On the other hand, falling below the MYR1.20 support will negate the bullish setup.
