SCOMNET gained 15.0sen (+42.9%) to close at RM0.500 yesterday.
Chart-wise, the stock has been on a downtrend since early January this year.
Yesterday, the stock closed higher with the formation of a “Marubozu” candlestick. Coupled with an uptick in key technical indicator backed by above average trading volume, we expect the buying momentum to persist.
From here on, overhead resistance can be seen at RM0.540 (R1) and RM0.600 (R2).
Conversely, downside supports can be identified at RM0.420 (S1) and RM0.340 (S2).
PENTA (Not Rated)
PENTA gained 35.0 sen (+14.1%) to close at RM2.83 yesterday.
Chart-wise, the stock has been on a downtrend since early January this year.
Yesterday’s bullish candlestick continued to trade below all key-SMAs, indicating strong selling pressure. However, we believe the stock is poised for a rebound as its RSI is showing signs of recovery, while backed by a potential MACD crossover.
Should buying momentum persist, overhead resistance is at RM3.10 (R1) and RM3.45 (R2).
Conversely, support levels can be identified at RM2.70 (S1) and RM2.40 (S2).
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