Shin Yang is poised to resume the upside movement, as it attempted to break past the immediate resistance.
RHB Retail Research (RHB) in a note today (June 19) said the stock has been consolidating sideways below the MYR0.79 resistance.
In the event a bullish breakout happens, the stock will resume the bullish trajectory towards the next resistance at MYR0.85, followed by MYR0.90.
On the flipside, falling below the MYR0.72 support will kick off the bearish phase.
AIMFLEX is eyeing to stage a bullish breakout, testing the immediate resistance with high volume.
RHB observed that volume has been increasing, suggesting the bullish momentum is gaining pace.
In the event the counter breaks past the MYR0.185 resistance, a bullish bias will emerge.
If this happens, RHB expected the counter to climb towards the next resistance pegged at MYR0.20, followed by MYR0.22.
Towards the downside, breaching the MYR0.16 support will open door for a correction.
