RHB Research’s top picks for the day.
Milux Corporation is set for a technical rebound, as it bounced off the support level while breaching the MYR0.895 resistance
level and the 21-day average line. The immediate-term bullish momentum should bring the stock towards the MYR1.03 resistance level, then MYR1.10 or its YTD high. However, the positive momentum may dissipate if it falls below the MYR0.84 support level, as it may form a “lower low” bearish pattern below the average line.
SDS Group is poised for a technical breakout as it bounced off the 21-day average line to close at the resistance point of
MYR0.39 yesterday. If the momentum persists, a breakout would emerge above that level, where the stock is expected to
propel towards the MYR0.405 resistance, followed by MYR0.435 or 16 Jun 2021’s high. If it falls below the support
evel of MYR0.35, selling pressure may emerge as it draws a “lower low” bearish structure below the average line.
Power Root is poised to resume its uptrend from the recent pullback as it bounced off the support while eyeing the recent
high of MYR1.58 – forming a “higher low” bullish pattern. If it manages to surpass that level, the stock is expected to push
further towards the MYR1.64 mark, followed by MYR1.70. Conversely, the bullish momentum may lose steam if it falls
below the MYR1.48 support, as it forms a “lower low” bearish pattern.
Westports Holdings may head north further, as it bounced off above the 21-day average line yesterday while attempting to
push past the MYR4.09 resistance level. If it manages to reclaim the area above that level, a bullish bias may emerge to
propel the stock towards the MYR4.19 resistance, before advancing towards MYR4.27. Meanwhile, a drop below the
MYR3.90 support may trigger the resumption of a downward correction, forming a “lower low” bearish structure below the
average line.
