AEON Co. (M) Berhad (6599) – A Promising Breakout
AEON Co. (M) Berhad is showing compelling upward momentum after breaking out of its rectangular trading pattern. This breakout was accompanied by increased volume, signaling the return of strong market interest. The Moving Average Convergence Divergence (MACD) is approaching positive territory, further underscoring the stock’s bullish sentiment.
The report suggests that a mild pullback might occur before the stock resumes its upward trajectory. The technical recommendation is to BUY AEON at a suggested range of MYR1.47 to MYR1.57, with a stop-loss set at MYR1.42. The estimated resistance levels are MYR1.70 (R1) and MYR1.85 (R2), with an expected time frame of six to eight weeks.
Vetece Holdings Berhad (0319) – Approaching a Bullish Breakout
Vetece Holdings Berhad is on the cusp of a bullish breakout, closing at the neckline of a double bottom pattern. The increased trading volume reinforces the likelihood of this breakout. The stock’s upward momentum is further validated by the rising Relative Strength Index (RSI), which highlights growing investor interest.
The 21-day Exponential Moving Average (EMA) serves as a reliable support level. The technical recommendation is to ACCUMULATE Vetece within the range of MYR0.485 to MYR0.510, with a stop-loss at MYR0.465. The resistance levels are projected at MYR0.550 (R1) and MYR0.600 (R2), with a six to eight-week time frame for potential gains.
Feytech Holdings Berhad (5322) – Primed for an Ascending Breakout
Feytech Holdings Berhad demonstrates strong technical indicators, maintaining its position above all key moving averages. It has repeatedly tested the neckline of an ascending triangle pattern, suggesting a high probability of an imminent breakout. The crossover of the 21-day EMA above the 50-day EMA further confirms the stock’s bullish potential.
The RSI has shown a fresh uptick, adding to the positive outlook. The technical recommendation is to ACCUMULATE Feytech within the range of MYR0.735 to MYR0.785, with a stop-loss at MYR0.710. The estimated resistance levels are MYR0.850 (R1) and MYR0.925 (R2), and the expected time frame for gains is six to eight weeks.
Crude Palm Oil (CPO) Futures – Rebounding from Fibonacci Levels
Crude Palm Oil Futures (FCPO) are experiencing a rebound from the 38.2% Fibonacci Retracement level, with prices regaining position above all moving averages. This rebound suggests strong upside potential, although a break below the 50-day EMA could indicate a bearish shift.
Key support levels for FCPO are MYR4,720 (S1) and MYR4,380 (S2), while resistance levels are forecasted at MYR5,270 (R1) and MYR5,500 (R2). Momentum is currently neutral in the short term but remains upward in the long term.
FBM KLCI Futures – Sustained Upward Momentum
The FBM KLCI Futures (FKLI) continues its upward journey after breaking out from its downtrend line. The index is now trading above all key moving averages, with the 21-day EMA poised to cross above the 50-day EMA. However, the RSI approaching overbought levels suggests a potential consolidation phase.
Support levels for FKLI are at 1,580.00 (S1) and 1,506.00 (S2), while resistance levels are projected at 1,686.50 (R1) and 1,727.00 (R2). The short-term trend appears to be in rebound mode, while the long-term trend remains downward.
