OMESTI rose 5.0 sen (+8.8%) to close at RM0.620 yesterday.
Yesterday’s bullish candlestick closed higher on the back of stronger-than-average trading volume. Furthermore, there looks to be a forming “Golden Cross” as the 20-day SMA attempts to cross above the 50-day and 100-day SMAs, which signals strong potential for a continuation of the rally.
Coupled with an uptick in key momentum indicators, we believe that the stock may be poised for more upside.
Resistance levels can be seen at RM0.700 (R1) and RM0.865 (R2).
Conversely, downside supports can be identified at RM0.550 (S1) and RM0.445 (S2).
QES (Not Rated)
Yesterday, QES gained 1.0 sen (+6.7%) to end at RM0.160.
Chart-wise, the stock has been on an uptrend since mid-March this year, which sees the stock currently trading above its 50- day and 100-day SMAs.
Given the bullish MACD signal, we believe that there may be more upside.
From here, overhead resistance is seen at RM0.185 (R1) and RM0.225 (R2).
Conversely, support levels can be identified at RM0.100 (S1) and RM0.080 (S2).
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MQ Trader 5863 views | 5 d ago
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New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....