RCECAP closed 5.0 sen (3.33%) higher yesterday to end at RM1.55.
The share appears to have breakout from its year-long downtrend, backed by high trading volume over the past few days.
Technical indicators are in bullish mode, possibly indicating the beginning of an uptrend.
Expect an immediate resistance test at RM1.60 (R1) where a break above it may see it rally towards RM1.71 (R2).
Any short-term dip towards RM1.49 (S1) and RM1.39 (S2) will be good entry points for keen investors looking to buy low.
RGB (Not Rated)
Yesterday, RGB gained 1.5 sen (5.88%) to close higher at RM0.270.
Currently, the share is currently experiencing an uptrend after rebounding from its prior downtrend since October last year with price falling as low as RM0.215 in mid-April.
Notably, RGB’s technical picture is now improving with the price decisively breaking the 100-day SMA, combined with the bullish “Marubozu” candlestick from yesterday’s trade.
Momentum indicators are looking increasingly positive with the recent crossover signal-line in MACD and minor upticks in RSI and Stochastic.
Expect follow through buying towards RM0.285 (R1) with a decisive breakout seeing higher resistance towards RM0.300 (R2).
Conversely, should buying momentum tappers, expect an immediate support at RM0.260 (S1) and RM0.240 (S2).
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