NOVA gained 3.5 sen (+6.93%) to close at RM0.540 yesterday.
Chart-wise, the stock has been consolidating since early December last year.
Yesterday “Marubozu Candlestick” punched through the 20-Day SMA, indicating strong buying momentum. Given the uptick in key technical indicators, we expect the share to trend higher.
From here on, overhead resistance can be seen at RM0.560 (R1) and RM0.635 (R2).
Conversely, downside supports can be identified at RM0.465 (S1) and RM0.360 (S2).
SERNKOU (Not Rated)
SERNKOU rose 5.0 sen (+5.85%) to close at RM0.905 yesterday.
Chart-wise, the stock has been consolidating since last year November.
Yesterday bullish engulfing candlestick was backed by above-average trading volume. Coupled with a bullish MACD Crossover and uptick in key technical indicator, we thus expect the share to trend higher.
Should buying momentum persist, the stock is expected to test overhead resistance at RM0.950 (R1) and RM0.990 (R2).
Conversely, support levels can be identified at RM0.850 (S1) and RM0.805 (S2).
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