AHB is in a strong uptrend after it breached the MYR0.155 resistance on strong volume. Since crossing above the 21-day SMA line, the stock has been charting a series of “higher highs” in tandem with the high trading volume – which confirms the formation of a bullish setup. Should the positive momentum follow through, the stock will test the next resistance levels of MYR0.175, then MYR0.19. On the other hand, falling below the MYR0.14 support will negate the bullish set-up.

Source: RHB Securities Research - 19 May 2023