Infoline Tec’s price is consolidating sideways, eyeing to stage a bullish breakout. We have observed the stock’s price moving horizontally below the MYR0.79 resistance for consolidation. In the event it climbs above the immediate resistance, a bullish bias will emerge. In this case, the counter’s price will test the next resistance pegged at MYR0.82, followed by the MYR0.88 level. On the downside, breaching the MYR0.745 support will resume the correction phase.

Source: RHB Securities Research - 3 Nov 2023