Teo Seng Capital may climb higher after it surged past the resistance on strong volume. The stock has crossed above the MYR1.10 resistance and charted a fresh “higher high” bullish candlestick. Riding on the strong momentum, it may test the next resistance points of MYR1.16 followed by MYR1.20. Towards the downside, breaching below the MYR1.04 support will nullify the bullish structure and lead the stock onto a bearish path.

Source: RHB Securities Research - 2 Oct 2023