MKH is looming over the resistance level as it tries to extend the bullish trajectory. Since crossing above the 21-day SMA line, the stock has been travelling upwards on “higher highs” and “higher lows”. If it breaks past the MYR1.40 immediate resistance, this will attract fresh buying pressure. Expect a follow-through in momentum to lift the stock towards the next resistance levels of MYR1.45 then MYR1.50. In the event the stock drops below the MYR1.33 support, this will negate the bullish setup.

Source: RHB Securities Research - 11 Sept 2023