Star Media Group is likely to rebound further after forming a technical breakout above MYR0.47 yesterday, on significant trading volume. The strong buying pressure should persist, supported by the "higher high" bullish pattern – above the 21- day SMA line – which could drive the stock towards the MYR0.525 resistance, followed by the YTD high of MYR0.625. If the stock falls below the MYR0.41 support level, the potential rebound will likely not materialise.

Source: RHB Securities Research - 8 Jun 2023