Supercomnet Technologies may undergo a bullish breakout, while testing the immediate resistance. The stock has been charting a series of “higher lows” recently, showing that bullish momentum is gaining traction. In the event that it breaks past the MYR1.38 immediate resistance, a bullish bias will emerge. In this case, the momentum may propel the stock towards the next resistance of MYR1.45, followed by MYR1.50. Conversely, falling below the MYR1.30 support will nullify the positive expectation and set off the correction phase.

Source: RHB Securities Research - 16 Oct 2023