Unique Fire Holdings is set to propel north, as it breached above the MYR0.23 resistance recently, followed by a pullback above that level – forming a “higher high” and “higher low” bullish structure above the 21-day average line. If it manages to stay above that mark, the bulls should lift the stock towards the MYR0.25, then the historical high of MYR0.285 (also 21 Dec 2022’s high). Conversely, the counter may reverse its direction if it falls below the MYR0.21 support, forming a “lower low” bearish structure below the average line.

Source: RHB Securities Research - 31 Jan 2023