Mi Technovation has staged a bullish breakout, showing that strong momentum is in play now. Observe that the stock has crossed above the 21-day SMA line and trading volume is increasing. This shows the bullish setup is in place now. After breaking past the MYR1.55 resistance, the stock is eyeing to test the next resistance pegged at MYR1.70, followed by MYR1.83. On the other hand, falling below the MYR1.45 support would kick off the correction phase.

Source: RHB Securities Research - 17 Jul 2023