Southern Cable Group is eyeing to resume an uptrend movement as it attempted to surpass the consolidation phase of MYR0.38 yesterday, supported by significant trading volume. If it manages to surpass above that level, the stock is expected to propel towards MYR0.40, or 7 Apr’s high, and then the MYR0.425 next resistance level – 14 Dec 2021’s high. If it falls below the MYR0.355 support, the recent uptrend movement may reverse as it forms a “lower low” bearish pattern.

Source: RHB Securities Research - 5 Aug 2022