Mah Sing Group is set to climb higher after breaking above the MYR0.64 previous resistance on recent strong trading volumes – it retraced near the 21-day SMA line yesterday. Riding on the “higher high” and “higher low” bullish structure, the stock may climb higher towards the MYR0.695 resistance, followed by the MYR0.74 next resistance. Conversely, falling below the MYR0.61 support, below the 21-day SMA line, dents sentiment and can lead to a downtrend.

Source: RHB Securities Research - 4 Aug 2023