KUB Malaysia is poised for a technical breakout, climbing sharply to test the MYR0.57 resistance yesterday, forming a “Bullish Marubozu” candlestick. If a breakout happens – forming a “higher high” bullish pattern – the stock may climb higher towards the next resistance at MYR0.61, followed by the MYR0.65 mark. Towards the downside, a breach below the MYR0.53 support will negate the bullish setup, forming a “lower low” bearish pattern below the 21-day SMA line.
Source: RHB Securities Research - 18 Oct 2023
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