GFM Services is set to propel higher after experiencing a technical breakout above the MYR0.21 level yesterday on significant trading volume. Coupled with the rising 21-day SMA line, the stock’s price may climb higher towards the MYR0.24 mark – the 52-week high – followed by the MYR0.275 next resistance. Towards the downside, a breach below the MYR0.19 support will negate the bullish setup, forming a “lower low” bearish pattern beneath the SMA line.

Source: RHB Securities Research - 24 Oct 2023