Harn Len Corporation is poised to print a new high, as it bounced off the 21-day average line and was headed towards crossing the MYR1.92 immediate resistance on strong volume yesterday – firming up its “higher low” bullish pattern amidst the latest “long white candlestick”. If a breakout happens above that level, the bulls are expected to propel the stock higher towards a new high of MYR2.00, followed by MYR2.10. However, the counter may reverse direction if it falls below the MYR1.80 support, negating the strong bullish momentum of yesterday.

Source: RHB Securities Research - 20 Oct 2022