Ranhill Utilities is in the midst of a technical rebound as it trended upwards for three consecutive sessions and tested the MYR0.90 resistance recently. If a breakout above that level happens, the stock may climb towards the recent high of MYR0.98, followed by the next resistance of MYR1.10 – the highest level since 18 Sep 2019. On the other hand, falling below the MYR0.83 support would lead to a downtrend.

Source: RHB Securities Research - 13 Dec 2023