PMBTECH (7172) made a major correction after tested the high of MYR1.66 since 03/08/2016 and this correction was stop after supported by 50% Fibo level of MYR1.29 on 26/09/2016.

Bollinger Band (BB) opened wider with middle BB, which is also the 10-days Moving Average is turning heading upwards indicating some degree of bullishness is started. In addition, PMBTECH closed with full bar in the latest session signaling a strong uptrend might take place in the coming trading days.

Should PMBTECH able to climb higher as anticipated, the next level it would testing is the recent high of MYR1.66.

 

HEVEA (5095) closed with relatively long white candle with improved volume and closed exactly at the resistance level of MYR1.27 in the latest session. However, the middle BB (10-days Moving Average) is flat in tandem with the upper and lower BB (dash lines) indicating no clear direction for HEVEA at the moment.

Keep trace on this counter and in case HEVEA is able to trade above MYR1.27 with notable increased in trading volume, foresee the BB will open wider with middle BB turning upward and it should testing the next resistance at MYR1.34 and MYR1.51.