Dayang Enterprise is eyeing to stage a bullish breakout, knocking on the MYR1.15 immediate resistance. Observe that the stock has been undergoing a sideways consolidation lately. Breaking past the resistance would indicate the bullish bias has emerged. In this case, the stock should climb higher towards MYR1.20, followed by MYR1.25. On the flip side, breaching below the MYR1.08 support will signal that the bears are back in control and a negative price action may happen.
Source: RHB Securities Research - 25 Oct 2022
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