Hextar Global is eyeing a technical breakout as it climbed upwards and attempted to move past the MYR1.74 resisance level yesterday – firming up its “higher low” bullish structure above the 21-day average line. If a breakout occurs above that level, the bullish bias may propel the stock towards the MYR1.80 threshold, followed by MYR1.93 or 26 Apr’s high. However, the uptrend may be reversed if the stock drops below the MYR1.65 support – thereby forming a “lower low” bearish pattern.

Source: RHB Securities Research - 22 Jul 2022