Stocks to Watch: Benalec, Cliq, GOB, Malton, Tuneins, Ytlland

Despite distribution activities happening in a few index-linked stocks, the market sentiment was pretty good today, with a huge number of shares breaking above their short-term swing high after ‘testing the supply” (VSA methodology). In case you don’t understand, it means BULLISH, BULLISH, BULLISH! Let’s skip the talking and look straight at the chart of some of these counters.

benalecBenalec – Closed above RM1.37, forming a Double Bottom.

cliqCliq – Broke above the Ascending Triangle.

gob (1)GOB – Broke above the Symmetrical Triangle.

maltonMalton – Closed above RM0.845, forming a Double Bottom.

tuneinsTuneins – Broke above the Ascending Triangle.

ytllandYtlland – Broke above the Ascending Triangle.

Needless to say, these shares will move to higher grounds in the coming weeks if the market sentiment doesn’t turn ugly so if you have took a position in any one of these shares, congratulation!  As for water-related stocks that continue to extend their gains today (Puncak, KPS), do be cautious as they are entering the overbought region.

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