PETALING JAYA: Rakuten Trade expects Solarvest Holdings Bhd
to extend its upward trajectory after breaking out from its 10-week ascending triangle pattern to surpass the immediate resistance at RM1.58.
In view of the stock hitting a 52-week high, with a white Marubozu candlestick on Monday, coupled with the supportive technical reading in relative strength index and improving exponential moving averages, Rakutan Trade said the stock may see additional strength, going forward.
“We expect the rising momentum to steer the stock higher and test the next level of resistance of RM1.70, followed by RM1.85,” said Rakutan Trade in a technical view note yesterday.
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