Dayang Enterprise climbed above the key resistance, and is eyeing an extension of its bullish trajectory. The stock has jumped above the MYR1.50 resistance on strong volume. The latest “higher high” bullish candlestick confirms that the bullish momentum is gaining speed again. The stock could test the next resistance levels pegged at MYR1.60, followed by MYR1.70. Towards the downside, falling below the MYR1.40 support will kickstart a bearish phase.

Source: RHB Securities Research - 24 Aug 2023