Pentamaster is poised to extend its upside movement, after breaking past the resistance on strong volume. The stock has climbed above the MYR5.05 resistance, charting a “higher high” bullish candlestick while volume has increased – which indicates that a strong bullish momentum is underway. Expect a follow-through price action to test the next resistance of MYR5.30, followed by MYR5.60. Towards the downside, falling below the MYR4.85 support will negate the bullish setup.

Source: RHB Securities Research - 10 Jul 2023