share_log

Stock Picks Of The Day – Ramssol, Shin Yang

Business Today ·  Jul 29 09:07

Ramssol is poised to extend its upward movement after undergoing a bullish breakout.

RHB Retail Research (RHB) in a note today (July 20) said the stock has climbed above the MYR0.75 resistance, thereby confirming a bullish setup.

Meanwhile, the 21-day SMA line is rounding upwards, which indicates that the short-term trend is a bullish one.

Riding on the renewed momentum, the stock may hit the next resistance of MYR0.80, followed by the MYR0.84.

Meanwhile, falling below the MYR0.705 support will negate the bullish setup.

big

Shin Yang's uptrend may be extended after it breached the resistance on strong volume.

The counter rose above the MYR0.90 resistance to form a fresh "higher high" bullish candlestick.

Trading volume has been increasing, and its price implies that the momentum is bullish.

This may propel it towards the next resistance of MYR0.97, followed by MYR1.05.

Conversely, falling below the MYR0.82 support will open the door to a correction.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment