The counters of AME Elite Consortium Bhd and Velesto Energy Bhd may be on the move today, technically.

Both counters have received a 'Technical Buy' from Affin Hwang Investment Bank Bhd in a retail research report released today.

A technical breakout could be forthcoming for AME as its share price approaches the apex of a symmetrical triangle pattern, the report said.

Fundamentally, AME is a Johor-based integrated industrial space solutions provider specialising in the design and construction of large-scale manufacturing plants and the development of industrial parks.

AME, which closed yesterday at RM1.72, has a resistance price placed at RM1.89 and RM1.96 while a stop loss at RM1.54.

On its part, Velesto Energy shares may see a resumption of the upward trajectory as the shares have been charting higher lows since early December 2023. It has been on the cards after pulling back from the recent high of 31.5 sen on Feb 28 to close at 28 sen yesterday.

The report has placed resistance prices at 31.5 sen and 35 sen, with a stop loss at 24.5 sen.

A provider of services for the upstream segment of the oil and gas industry, Velesto Energy recently reported a 'pleasant' earnings surprise (which significantly exceeded consensus expectations and triggered a positive share price reaction) with net profit surging to RM66.7 million in 4Q23 (versus net loss of RM26.0 million previously), bringing its full-year performance to RM99.5 million (marking a turnaround from FY22's net loss of RM100.4 million, the report added.