Greatech Technology Bhd and Thong Guan Industries Bhd are expected to extend their technical rebounds, driven by strong bullish momentum, according to RHB Investment Bank Bhd (RHB Research).

Greatech is showing a counter-trend rebound following a strong price action, with its latest candlestick forming a higher low on high volume, signalling positive momentum.

If the stock breaks above the RM1.47 resistance level, it could attract fresh buying interest and climb towards RM1.55 and RM1.65. However, a drop below RM1.35 would invalidate this bullish setup and resume the downtrend.

Meanwhile, Thong Guan is also attempting to extend its rebound, having found support at a key level. A bullish candlestick on high volume suggests that momentum is strengthening.

A close above RM1.24 would confirm the bullish setup, with potential upside targets at RM1.30 and RM1.36. However, a dip below RM1.18 could lead to further corrections.

RHB Research's analysis suggests that both counters are at crucial resistance levels, where a breakout could signal further gains.