Theta Edge’s uptrend may be resumed after it underwent a bullish breakout.
RHB Retail Research (RHB) in a note today (June 28) said the stock has climbed above the 21-day SMA line and breached the MYR1.70 resistance.
This latest breakout has confirmed the bullish setup.
Riding on the renewed momentum, the stock should travel towards MYR1.90, followed by MYR2.10.
On the flip side, falling below the MYR1.50 support will open the door to a correction.
Sin Heng Chan (Malaya)’s upside movement could be extended after it breached the key resistance point on strong volume.
The counter broke past the MYR0.385 resistance to form a fresh “higher high” bullish candlestick.
An extension of the bullish setup should see a “higher high” candlestick, thereby testing the next resistance of MYR0.42, followed by MYR0.45.
Meanwhile, falling below the MYR0.36 support will negate the bullish setup.
