Leong Hup International is attempting to move higher after testing the MYR0.625 immediate resistance on strong volume yesterday. If a breakout above that level occurs, the stock is likely to trend higher towards the recent high of MYR0.655, followed by the next resistance at MYR0.68. Conversely, a decline below the MYR0.585 support signals a reversal of the positive trend, as the counter's share price will trade below the SMA line and form a “lower low” bearish pattern.

Source: RHB Securities Research - 25 Oct 2023