Betamek is poised to stage a bullish breakout after attempting to move past the MYR0.54 threshold yesterday on improved volume. If it manages to break above this resistance level, the renewed momentum would drive the stock towards the next resistance level at MYR0.605, followed by MYR0.755, which was 27 Oct 2022’s high. Conversely, the counter may reverse its direction if it falls below the MYR0.495 support level, forming a “lower low” bearish structure.

Source: RHB Securities Research - 10 Feb 2023