Samchem Holdings is set to move higher, after breaching the immediate resistance level of MYR0.97 last Friday – printing a “higher high” bullish pattern. If it manages to sustain above this level, bullish momentum may propel the stock towards the MYR1.01 level, followed by the MYR1.04 resistance or its YTD high. Conversely, a fall below the MYR0.925 support level would trigger selling pressure below the 21-day average line.

Source: RHB Securities Research - 28 Mar 2022