AIMFLEX is attempting to stage a bullish breakout, after testing the MYR0.19 immediate resistance level on high volume. We observed that the stock has been charting a series of “higher high” patterns, while trading volume is also increasing. This shows that strong bullish momentum is underway. In the event that a bullish breakout happens, we expect the momentum to propel the stock towards the MYR0.21 level, followed by MYR0.23. On the flip side, a breach below the MYR0.17 support level will nullify this expectation.

Source: RHB Securities Research - 2 May 2023