Boustead Plantations is poised to resume its uptrend as it bounced upwards yesterday following a recent pullback – it may be eyeing the MYR1.14 immediate resistance. If it manages to surpass that level, the stock may propel upwards further, towards MYR1.22 or the 52-week high, and then to the next resistance of MYR1.30. Meanwhile, a fall below the MYR1.05 may trigger the resumption of a downward correction, negating the previous breakout level.

Source: RHB Securities Research - 15 Apr 2022