Milux Corporation is set to resume its uptrend movement as it bounced off the 21-day average line while breaching the MYR0.98 immediate resistance to form a “higher high” bullish pattern on stronger trading volume. The uptrend is expected to persist towards hitting the MYR1.10 recent high, followed by the MYR1.15 next resistance. Conversely, the stock may reverse direction if it falls below the MYR0.89 support, as it forms a “lower low” bearish structure below the 21-day average line.

Source: RHB Securities Research - 27 Apr 2022