Boustead Plantations found its footing above the 21-day average line as it bounced off that line to close higher yesterday – following the recent pullback. If it manages to surge above yesterday’s high of MYR1.09, the bulls may jump further towards the next resistance of the recent high of MYR1.22, followed by MYR1.30. However, the momentum may lose steam if it falls below the MYR1.00 psychological support, ie below the 21-day average line.

Source: RHB Securities Research - 9 Mar 2022