BIMB should continue to climb after closing back above the RM3.30 level. A purchase can be made if the stock stays above RM3.30, with a close below RM3.15 as stop-loss. The price target is RM3.70, if the RM3.50 resistance level is violated convincingly. The stock may drift sideways if it fails to stay above RM3.30, and its downside bias will increase if it closes below the psychological RM3.00.
Muhibbah may rise further after closing at its highest in more than 6 months. A position can be initiated if the stock stays above RM0.95, with a close below RM0.87 as stop-loss. The price target is RM1.15, with resistance also expected at RM1.10. Failure to stay above RM0.95 likely see the stock trade sideways, with strong support at RM0.80.
Source: RHB
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